SNWV - SANUWAVE Announces Termination of Merger Agreement With SEP Acquisition Corp.
Companyto Pursue Alternate Plans for Capital Structure Improvement Including a Proposed Reverse Stock Split and a Note and Warrant Exchange Independent of a Merger Transaction
EDEN PRAIRIE, MN - (NewMediaWire) - June 26, 2024 - SANUWAVE Health, Inc. (the“Company” or “Sanuwave”) (OTCQB: SNWV), a leading provider of next-generationFDA-approved wound care products, is providing an update onits proposed merger with SEP Acquisition Corp. (“SEPA”) and other corporateactivities.
On Tuesday,June 25, 2024, the Company delivered a notice to SEPAterminating the merger agreement.
“Based uponour assessment of the likelihood of being able to secure a national securities exchangelisting for the combined company and of the relative attractiveness ofcontinuing to pursue this merger transaction as opposed to other options togrow SANUWAVE’s business and seek an uplisting, our board of directors hasunanimously determined that terminating the merger agreement with SEPA andseeking another path forward was in the best interests of the Company and its stockholders,”said CEO Morgan Frank. “SANUWAVE has comea long way in the last year and now sees a number of options and opportunitiesthat were not available in the past and will seek to plot a course to further strengthenits financial position, its business, and to allow it to achieve a marketvaluation commensurate to the fundamentals of the SANUWAVE business. This process has already begun, and we expectto communicate more in the near future about, among other things, a proposed reversesplit and note and warrant exchanges. The Company believes it is in a strong position to be choosy about itspath forward and that it has a number of attractive potential paths ahead ofit. We look forward to sharing more onthis in the coming weeks.”
About SANUWAVE
SANUWAVE Healthis focused on the research, development, and commercialization of its patented,non-invasive and biological response-activating medical systems for the repairand regeneration of skin, musculoskeletal tissue, and vascular structures.
SANUWAVE'send-to-end wound care portfolio of regenerative medicine products and productcandidates helps restore the body’s normal healing processes. SANUWAVE appliesand researches its patented energy transfer technologies in wound healing,orthopedic/spine, aesthetic/cosmetic, and cardiac/endovascular conditions.
Forward-LookingStatements
This press release maycontain “forward-looking statements” within the meaning of the PrivateSecurities Litigation Reform Act of 1995, such as statements relating to a potential reverse stock split and noteand warrant exchange, future financialresults, production expectations and constraints, and plans for future businessdevelopment activities. Forward-looking statements include all statements thatare not statements of historical fact regarding intent, belief or currentexpectations of the Company, its directors or its officers. Investors arecautioned that any such forward-looking statements are not guarantees of futureperformance and involve risks and uncertainties, many of which are beyond theCompany’s ability to control. Actual results may differ materially from thoseprojected in the forward-looking statements. Among the key risks, assumptionsand factors that may affect operating results, performance and financialcondition are risks associated with supply chain and production constraints, regulatoryoversight, marketconditions, the Company’s ability tomanage its capital resource issues, competition, and the other factorsdiscussed in detail in the Company’s periodic filings with the Securities andExchange Commission. The Company undertakes no obligation to update anyforward-looking statement.
Contact: investors@sanuwave.com