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NEWPORT BEACH, Calif., Nov. 22, 2024 (GLOBE NEWSWIRE) -- Elevai Labs, Inc. (NASDAQ: ELAB) (“Elevai” or the “Company”), a leader in medical aesthetics, announced today that it is has withdrawn the previously announced offer (the “Offer”) to holders of the Company’s outstanding Common Stock (the “Common Stock”), to exchange up to 15,000,000 shares of Common Stock for up to 15,000,000 shares of the Company’s newly issued Series B Preferred Stock (“Series B Preferred Stock”), as a result of notice from the Depositary Trust Company (“DTC”) that due to logistical issues, DTC would not be able to accept the tenders of Common Stock. As a result of this withdrawal, no shares will be exchanged in the Offer and all shares previously tendered and not withdrawn will be promptly returned to tendering holders. The Company had intended to complete the Offer prior to a planned reverse stock split; however, unforeseen circumstances, including amending the offering materials in response to Securities and Exchange Commission ("SEC") comments, caused delays. As a result, the Company has withdrawn the Offer to prioritize regaining compliance with Nasdaq's listing requirements. The Company’s obligation to exchange shares pursuant to the Offer was subject to a condition that specified the Series B Preferred Stock shall be eligible for deposit with the DTC. As shares of Common Stock tendered could not be accepted by the DTC and exchanged for Series B Preferred Stock, the Offer could not be settled. The Company will assess whether to commence a new exchange offer, though there can be no assurance that the Company will proceed with a new exchange offer or as to the terms thereof. About Elevai Labs, Inc. Elevai Labs Inc. (NASDAQ: ELAB) specializes in medical aesthetics and biopharmaceutical drug development, focusing on innovations for skin aesthetics and treatments tied to obesity and metabolic health. The Company operates a diverse portfolio of three wholly owned subsidiaries across the medical aesthetics and biopharmaceutical sectors, Elevai Skincare Inc., Elevai Biosciences Inc., and Elevai Research Inc. For more information please visit www.elevailabs.com . Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov . IR Contact: IR@ElevaiLabs.comRogers Communications Inc. Cl B stock rises Wednesday, outperforms market
2024: A Year of Shocking Revelations and Unforgettable MomentsBOSTON--(BUSINESS WIRE)--Dec 4, 2024-- Myomo, Inc. (NYSE American: MYO) (“Myomo”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper limb paralysis, today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. In connection with the offering, Myomo also expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Craig-Hallum Capital Group is acting as the sole managing underwriter for the offering. Myomo expects to use the net proceeds of the offering, together with its existing cash and cash equivalents, to accelerate its revenue growth by funding an increase in advertising expenses and headcount to support the expected revenue growth in Myomo’s direct billing channel, along with investments in systems to support growth in the O&P channel and in scaling its operations. In addition, the net proceeds of the offering will be used to fund product development and sustaining engineering activities to enhance the current MyoPro product line and to develop the next generation of Myomo’s products, with the remainder for working capital and general corporate purposes. The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-281311), as amended, including a base prospectus, relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (the “SEC”) on August 6, 2024 and was declared effective on August 28, 2024. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. Myomo will file a preliminary prospectus supplement relating to and describing the terms of the proposed offering with the SEC and will be available on the SEC’s website at www.sec.gov . The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the preliminary prospectus supplement and the accompanying base prospectus relating to the securities being offered may be obtained, when available, from Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at (612) 334-6300 or by email at prospectus@chlm.com . The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC. About Myomo Myomo is a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper-limb paralysis. Myomo develops and markets the MyoPro product line. MyoPro is a powered upper-limb orthosis designed to support the arm and restore function to the weakened or paralyzed arms of certain patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury or other neuromuscular disease or injury. It is currently the only marketed device in the U.S. that, sensing a patient’s own EMG signals through non-invasive sensors on the arm, can restore an individual’s ability to perform activities of daily living, including feeding themselves, carrying objects and doing household tasks. Many are able to return to work, live independently and reduce their cost of care. Myomo is headquartered in Boston, Massachusetts, with sales and clinical professionals across the U.S. and representatives internationally. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, of which provisions Myomo is availing itself. Such forward-looking statements include, but are not limited to, those regarding the completion of the proposed offering and expectations regarding the timing, anticipated use of proceeds from the offering and expectations to grant the underwriter a 30-day option to purchase additional shares. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as “believes,” “expects,” “may,” “will,” “could,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” or “anticipates,” or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions and satisfaction of customary closing conditions related to the proposed offering. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Myomo assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise, except as required by law. Please refer to Myomo's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other subsequent filings with the SEC, which are available at the SEC's website at www.sec.gov , for additional and more detailed discussion of risk factors that could cause actual results to differ materially from Myomo’s current expectations. View source version on businesswire.com : https://www.businesswire.com/news/home/20241204653512/en/ CONTACT: For Myomo: ir@myomo.comInvestor Relations: Kim Sutton Golodetz Alliance Advisors IR kgolodetz@allianceadvisors.com 212-838-3777 KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS INDUSTRY KEYWORD: WEARABLES/MOBILE TECHNOLOGY TECHNOLOGY MEDICAL DEVICES NEUROLOGY OTHER HEALTH HARDWARE HEALTH ROBOTICS GENERAL HEALTH SOURCE: Myomo, Inc. Copyright Business Wire 2024. PUB: 12/04/2024 04:05 PM/DISC: 12/04/2024 04:05 PM http://www.businesswire.com/news/home/20241204653512/en
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‘Get Millie Black’ Is Not Your Typical Detective ShowIndia to host WAVES Summit in February: PM Modi PTI Updated: December 29th, 2024, 18:19 IST in Entertainment , Home News , National 0 Pic- IANS Share on Facebook Share on Twitter Share on WhatsApp Share on Linkedin New Delhi: India will host the World Audio Visual Entertainment Summit (WAVES) for the first time in February next year which will be a global platform for its creative talents, fostering collaborations and showcasing the country’s potential as a hub for world-class content creation. Prime Minister Narendra Modi spoke extensively about the WAVES Summit in his monthly ‘Mann ki Baat’ Radio address Sunday. Also Read Investigations on in Sandhya Theatre stampede case: Telangana DGP 54 mins ago Sonakshi Sinha, Zaheer Iqbal hang out with ‘cool cats’ 57 mins ago Comparing the WAVES to global events like the World Economic Forum in Davos, Modi said the leaders from the media and entertainment industry as well as creative minds from across the globe will gather in Delhi for the Summit being held from February 5-9. “This Summit is an important step towards making India a hub of global content creation,” he said. The Prime Minister emphasised the pivotal role of young creators in the preparations for WAVES, reflecting the dynamic spirit of India’s creative community. He expressed pride in the enthusiasm of the country’s youth and their contribution to the burgeoning creator economy, a key driver as India advances toward becoming a five trillion dollar economy. “Whether you are a young creator or an established artist, associated with Bollywood or regional cinema, a professional from the TV industry, an expert in animation, gaming, or an innovator in entertainment technology, I encourage you to be a part of the WAVES Summit,” Modi said. He urged all stakeholders in the entertainment and creative industries to actively participate in the WAVES. “The WAVES Summit is poised to serve as a global platform for India’s creative talents, fostering collaborations and showcasing the country’s potential as a hub for world-class content creation,” Modi said. The Summit will also highlight India’s advancements in animation, gaming, entertainment technology, and regional and mainstream cinema, he added. Modi also paid heartfelt tributes to ace director Raj Kapoor and singer Mohammed Rafi on their 100th birth anniversaries. Raj Kapoor’s role in showcasing India’s soft power through his timeless films and Mohammed Rafi’s mesmerizing voice that continues to resonate with all generations, he said. Modi also recalled Akkineni Nageswara Rao’s contributions in elevating Telugu cinema while reflecting the Indian traditions. He also honored Tapan Sinha’s socially conscious films that inspired unity and awareness. Modi said these legends not only shaped the golden era of Indian cinema but also strengthened India’s cultural heritage, leaving behind an everlasting legacy for generations to admire and draw inspiration from. PTI Tags: India Narendra Modi WAVES Summit Share Tweet Send Share Suggest A Correction Enter your email to get our daily news in your inbox. Leave this field empty if you're human:
