BORDEAUX, France & BOSTON--(BUSINESS WIRE)--Regulatory News:
IMPLANET (Paris:ALIMP) (OTCQX:IMPZY) (Euronext Growth: ALIMP, FR0010458729, eligible for PEA-PME equity savings plans) (the ‘Company’), a medical technology company specializing in vertebral and knee-surgery implants, announces that its board of directors has initiated a reverse stock split by exchanging 40 existing shares for 1 new share, authorized by Implanet’ shareholders at the March 25, 2019 extraordinary general meeting.
The reverse stock split process of the Company will commence on Thursday, January 2, 2020 in accordance with the terms of the reverse stock split notice published on December 16, 2019 in the Bulletin des Annonces Légales Obligatoires (BALO).
This technical adjustment is purely arithmetical and has no impact on the value of Implanet shares held by current shareholders.
Next financial press release: 2019 annual revenue, on Tuesday January 21st, 2020 (after market)
Founded in 2007, Implanet is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its activity is based on two main product ranges, the JAZZ® latest-generation implant, aimed at treating spinal pathologies requiring vertebral fusion surgery and MADISON, its implant for first-line knee prosthetic surgery. Implanet’s tried-and-tested orthopedic platform, which is based on perfect control over the traceability of its products, provides it with a proven ability to promote these innovations. Protected by four families of international patents, JAZZ® and MADISON have obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States and the CE marking. Implanet employs 38 staff and recorded 2018 revenue of €6.7 million. For further information, please visit www.Implanet.com. Based near Bordeaux in France, Implanet established a US subsidiary in Boston in 2013. Implanet is listed on Euronext™ Growth market in Paris. The Company would like to remind that the table for monitoring the equity line (OCA, OCAPI, BSA) and the number of shares outstanding, is available on its website: http://www.implanet-invest.com/suivi-des-actions-80