Reshape Lifesciences Inc. Stock Price, News & Analysis

ReShape Lifesciences announced a warrant exercise agreement generating approximately $46 million in gross proceeds, aimed at accelerating its growth strategy and enhancing its weight-loss portfolio. The funds will support marketing activities, product development, and debt repayment. The Lap-Band® System, with over 1 million placements, remains central to their offerings, alongside the new reshapecare™ virtual health program. Executives express optimism about future growth, emphasizing a solid financial position and strategic initiatives to capture a larger share of the weight-loss market.

ReShape Lifesciences Inc. (NASDAQ:RSLS) announced a warrant exercise agreement on June 29, 2021, allowing accredited investors to exercise up to 7.9 million shares of common stock. In return, investors received new warrants for 5.9 million shares at $6.00 each. The gross proceeds from this transaction amounted to approximately $46.2 million. The company plans to repay $10.5 million of its current debt and use the remainder for corporate growth and working capital. A resale registration statement will be filed within 30 days for the new warrants.

ReShape Lifesciences shares began trading on The Nasdaq Capital Market under the ticker RSLS on June 16, 2021, with a trading volume exceeding 3.5 million shares on the first day. This marks a significant achievement for the company following its merger with Obalon Therapeutics. CEO Bart Bandy expressed enthusiasm about leveraging the advantages of being a Nasdaq-listed firm and advancing their mission in weight loss solutions, highlighting the Lap-Band® System and the new reshapecare™ virtual health program that is reimbursed by major insurance carriers.

ReShape Lifesciences Inc. announced the completion of its merger with Obalon Therapeutics, effective June 16, 2021, with shares trading under the ticker symbol RSLS on The Nasdaq Capital Market.

The merger enhances ReShape's capacity in the weight-loss solutions market, providing a broader range of FDA-approved products and reimbursed virtual care services.

Post-merger, ReShape and Obalon shareholders own 51% and 49% of the combined company, respectively, reinforcing ReShape's position as a leader in the physician-led weight loss industry.

ReShape Lifesciences and Obalon Therapeutics announced the closing of their merger effective June 15, 2021. Post-merger, ReShape stockholders will hold 51% and Obalon stockholders 49% of the new entity. Shareholders of ReShape will receive 0.5637 shares of the combined company for each share held. Obalon will undergo a 1-for-3 reverse stock split prior to the merger. The combined company will trade on Nasdaq under the symbol RSLS, starting June 16, 2021.

ReShape Lifesciences Inc. (OTCQB:RSLS) and Obalon Therapeutics, Inc. (NASDAQ:OBLN) are nearing the completion of their merger, pending approval from Nasdaq for their listing application. This merger follows stockholder approvals from both companies, with ReShape stockholders voting on May 13, 2021, and Obalon stockholders on May 25, 2021. Once finalized, the combined company will trade under the name ReShape Lifesciences Inc. with the ticker RSLS on Nasdaq. This development signifies a strategic move in the obesity treatment market.

Obalon Therapeutics, Inc. (NASDAQ:OBLN) is reminding stockholders to vote on proposals crucial for its merger with ReShape Lifesciences Inc. at the reconvened special meeting on May 25, 2021. Stockholder approval is essential, as failure to secure it could adversely impact Obalon's financial standing and share price. Post-merger, Obalon stockholders will own around 49% of the combined company, promoting potential growth. All materials for the special meeting are available online, and stockholders can vote via phone or email.

Obalon Therapeutics (NASDAQ:OBLN) is urging stockholders to vote on proposals related to its merger with ReShape Lifesciences ahead of the reconvened special meeting on May 25, 2021. Approval of the merger is critical, as failure to secure it could adversely affect Obalon and its stock price. Post-merger, Obalon shareholders will own around 49% of the combined entity, allowing them to benefit from its future growth. Eligible stockholders are reminded to vote by phone or online.

Obalon Therapeutics has announced the adjournment of its special shareholders meeting to May 25, 2021, due to a lack of quorum on the originally scheduled date of May 13, 2021. The board urges all stockholders to participate and vote on key proposals related to the merger with ReShape Lifesciences. Eligible stockholders as of April 7, 2021, can vote regardless of current share ownership. All pertinent materials regarding the special meeting are accessible online. The final joint proxy statement regarding the merger filed with the SEC contains significant information for investors.