Business
SANUWAVE Announces Termination of Merger Agreement With SEP Acquisition Corp.
Company to Pursue Alternate Plans for Capital Structure Improvement Including a Proposed Reverse Stock Split and a Note and Warrant Exchange Independent of a
About this update from Sanuwave Health, Inc.
[{"type":"text","content":"Company to Pursue Alternate Plans for Capital Structure Improvement Including a Proposed Reverse Stock Split and a Note and Warrant Exchange Independent of a Merger Transaction\n\n EDEN PRAIRIE, MN - (NewMediaWire) - June 26, 2024 - SANUWAVE Health, Inc. (the \"Company\" or \"Sanuwave\") (OTCQB: SNWV), a leading provider of next-generation FDA-approved wound care products, is providing an update on its proposed merger with SEP Acquisition Corp. (\"SEPA\") and other corporate activities. \n On Tuesday, June 25, 2024, the Company delivered a notice to SEPA terminating the merger agreement. \n \"Based upon our assessment of the likelihood of being able to secure a national securities exchange listing for the combined company and of the relative attractiveness of continuing to pursue this merger transaction as opposed to other options to grow SANUWAVE's business and seek an uplisting, our board of directors has unanimously determined that terminating the merger agreement with SEPA and seeking another path forward was in the best interests of the Company and its stockholders,\" said CEO Morgan Frank. \"SANUWAVE has come a long way in the last year and now sees a number of options and opportunities that were not available in the past and will seek to plot a course to further strengthen its financial position, its business, and to allow it to achieve a market valuation commensurate to the fundamentals of the SANUWAVE business. This process has already begun, and we expect to communicate more in the near future about, among other things, a proposed reverse split and note and warrant exchanges. The Company believes it is in a strong position to be choosy about its path forward and that it has a number of attractive potential paths ahead of it. We look forward to sharing more on this in the coming weeks.\"\n About SANUWAVE\n SANUWAVE Health is focused on the research, development, and commercialization of its patented, non-invasive and biological response-activating medical systems for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures.\n SANUWAVE's end-to-end wound care portfolio of regenerative medicine products and product candidates helps restore the body's normal healing processes. SANUWAVE applies and researches its patented energy transfer technologies in wound healing, orthopedic/spine, aesthetic/...