UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of November 2023
Commission File Number 001-40996
MDXHEALTH SA
(Translation of registrant’s name into English)
CAP Business Center
Zone Industrielle des Hauts-Sarts
4040 Herstal, Belgium
+32 4 257 70 21
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
MDXHEALTH SA
On November 13, 2023, MDxHealth SA (the “Company”) issued
a press release, a copy of which is attached hereto as Exhibit 99.1.
The information in the attached
Exhibit 99.1 is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed
incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except
as otherwise set forth herein or as shall be expressly set forth by specific reference in such a filing.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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MDXHEALTH SA |
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Date: November 13, 2023 |
By: |
/s/ Michael McGarrity |
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Name: |
Michael McGarrity |
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Title: |
Chief Executive Officer |
2
Exhibit 99.1
NEWS RELEASE - REGULATED
INFORMATION
INSIDE INFORMATION
NOVEMBER 13, 2023, 4:00 PM ET / 22:00 CET
MDxHealth Announces Completion of Share Consolidation,
and Update of Outstanding Shares and Voting Rights
IRVINE, CA, and HERSTAL, BELGIUM –
November 13, 2023 – MDxHealth SA (NASDAQ/Euronext: MDXH) (“mdxhealth” or the “Company”), a commercial-stage
precision diagnostics company, today announces that it completed the share consolidation with respect to all its outstanding shares by
means of a 1-for-10 reverse stock split (the “Share Consolidation”), the details of which were announced by press release
on November 6, 2023.
After close of trading on the regulated market
Euronext Brussels, all 272,880,936 Company’s shares (ISIN BE0003844611) were consolidated into a new and reduced number of 27,288,093
Company’s shares (ISIN BE0974461940).
In consequence, today, November 13, 2023, was
the last trading day of the old 272,880,936 Company’s shares (ISIN BE0003844611) on the regulated market of Euronext Brussels.
Tomorrow, November 14, 2023, will be the first trading date of the new consolidated 27,288,093 Company’s shares (ISIN BE0974461940)
on the regulated market of Euronext Brussels. As a result of the Share Consolidation, all Company’s American Depositary Shares
(“ADSs”), trading on Nasdaq, now represent one (1) new share (instead of ten (10) old share previously), and each holder
of subscription rights issued by the Company now have to exercise subscription rights with respect to at least 10 Company’s shares
prior the Share Consolidation in order to subscribe for one Company’s share after the Share Consolidation.
In view of the above, in accordance with Article
15 of the Belgian Act of May 2, 2007 on the disclosure of major participations in issuers of which shares are admitted to trading on
a regulated market and regarding miscellaneous provisions, in the context of the Share Consolidation, while the Company’s share
capital is still of EUR 164,302,752.89, the number of issued and outstanding shares has decreased from 272,880,936 to 27,288,093 ordinary
shares.
In addition to the outstanding shares of the
Company:
● | a
total of 18,552,936 subscription rights (share options) of the Company is outstanding pursuant to the Company's existing share option plans, which entitles their
holders (assuming all subscription rights are granted and exercised) to subscribe to a total
of 1,855,293 new shares with voting rights; and |
● | under
the loan and security agreement entered into by the Company and Innovatus Capital Partners in August
2022, Innovatus has the right to convert, prior to August 2, 2025, up to 15% of the outstanding
principal amount of the loans (by means of a contribution in kind of the relevant payables due
by the Company under the loans) into American Depositary Shares (“ADSs”) of
the Company (each representing 1 ordinary share of the Company) at a conversion price per ADS equal
to USD 1.121. |
As announced in the Company’s press release
of November 6, 2023, the process for the sale of new consolidated Company’s shares into which fractions of old Company’s
shares have been aggregated, and the distribution of proceeds from such sale (as the case may be), is expected to be completed on November
23, 2023.
For further information and details regarding
the Share Consolidation and the ongoing transition from a dual listing of the ADSs on Nasdaq and shares on Euronext Brussels to a sole
listing of shares on Nasdaq, reference is made to the dedicated web page which can be found on the Company’s website (see: Proposed
Transition to a Single Listing on NASDAQ - mdxhealth). As the implementation process progresses, the Company intends to further communicate
on each relevant step.
About mdxhealth®
mdxhealth is a commercial-stage precision diagnostics
company that provides actionable molecular information to personalize patient diagnosis and treatment. The Company’s tests are
based on proprietary genomic, epigenetic (methylation) and other molecular technologies and assist physicians with the diagnosis and
prognosis of urologic cancers and other urologic diseases. The Company’s U.S. headquarters and laboratory operations are in Irvine,
California, with additional laboratory operations in Plano, Texas. European headquarters are in Herstal, Belgium, with laboratory operations
in Nijmegen, The Netherlands. For more information, visit mdxhealth.com and follow us on social media at: twitter.com/mdxhealth, facebook.com/mdxhealth
and linkedin.com/company/mdxhealth.
For more information:
mdxhealth
info@mdxhealth.com
LifeSci Advisors (IR & PR)
US: +1-949-271-9223
ir@mdxhealth.com
Forward-looking Statements
This press release contains forward-looking
statements and estimates with respect to the anticipated future performance of MDxHealth and the market in which it operates, all of
which involve certain risks and uncertainties. These statements are often, but are not always, made through the use of words or phrases
such as “potential,” “expect,” “will,” “goal,” “next,” “potential,”
“aim,” “explore,” “forward,” “future,” and “believes” as well as similar
expressions. Forward-looking statements contained in this release include, but are not limited to, statements regarding timing of the
proposed transition from a dual listing of shares on Euronext Brussels and ADSs on Nasdaq to a sole listing of shares on Nasdaq and Share
Consolidation, including statements regarding the anticipated impacts on the trading market for MDxHealth’s securities and operating
costs. Such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors,
which were deemed reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are
beyond the company’s control, and may turn out to be materially different. Examples of forward-looking statements include, among
others, statements we make regarding expected future operating results, product development efforts, our strategies, positioning, resources,
capabilities and expectations for future events or performance. Important factors that could cause actual results, conditions and events
to differ materially from those indicated in the forward-looking statements include, among others, the following: uncertainties associated
with the coronavirus (COVID-19) pandemic, including its possible effects on our operations, and the demand for our products; our ability
to successfully and profitably market our products; the acceptance of our products and services by healthcare providers; the willingness
of health insurance companies and other payers to cover our products and services and adequately reimburse us for such products and services;
our ability to obtain and maintain regulatory approvals and comply with applicable regulations; the possibility that the anticipated
benefits from our business acquisitions like our acquisition of the Oncotype DX® GPS prostate cancer business will not
be realized in full or at all or may take longer to realize than expected; and the amount and nature of competition for our products
and services. Other important risks and uncertainties are described in the Risk Factors sections of our most recent Annual Report on
Form 20-F and in our other reports filed with the Securities and Exchange Commission. MDxHealth expressly disclaims any obligation to
update any such forward-looking statements in this release to reflect any change in its expectations with regard thereto or any change
in events, conditions or circumstances on which any such statement is based unless required by law or regulation. This press release
does not constitute an offer or invitation for the sale or purchase of securities or assets of MDxHealth in any jurisdiction. No securities
of MDxHealth may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended,
or in compliance with an exemption therefrom, and in accordance with any applicable U.S. securities laws.
NOTE: The mdxhealth logo, mdxhealth,
Confirm mdx, Select mdx, Resolve mdx, Genomic Prostate Score, GPS and Monitor mdx are trademarks or registered trademarks of MDxHealth
SA. All other trademarks and service marks are the property of their respective owners.
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