Bioventus Inc. (Nasdaq: BVS) (“Bioventus” or the “Company”), a
global leader in innovations for active healing, and Misonix, Inc.
(Nasdaq: MSON) (“Misonix”), a provider of minimally invasive
therapeutic ultrasonic technologies and regenerative medicine that
enhance clinical outcomes, today announced that the stockholders of
Bioventus approved the issuance of shares of Bioventus class A
common stock to the stockholders of Misonix in connection with the
previously announced Agreement and Plan of Merger, dated July 29,
2021, by and among Bioventus, Misonix and other parties thereto,
pursuant to which Misonix will be acquired by, and become a
wholly-owned subsidiary of, Bioventus (the “Merger Agreement”) and
the stockholders of Misonix have approved the proposal to adopt the
Merger Agreement.
Detailed information regarding the voting results was made
available by Bioventus and Misonix in a Form 8-K filed with the US
Securities and Exchange Commission (“SEC”) on October 26, 2021,
respectively.
“We are pleased by the outcome of today’s vote and thank our
stockholders for supporting the acquisition,” said Ken Reali, Chief
Executive Officer, Bioventus. “The combination with Misonix creates
significant value and provides a deeper global portfolio of pain
treatments, restorative therapies and surgical solutions for
patients. We are excited to welcome the Misonix team to
Bioventus.”
“We are excited about our progress in completing the transaction
that will drive long term value for Misonix shareholders and look
forward to closing,” said Stavros Vizirgianakis, Chief Executive
Officer of Misonix.
Under the terms and subject to the conditions set forth in the
Merger Agreement, Misonix stockholders will receive either (i)
1.6839 shares of Bioventus class A common stock or (ii) $28.00 in
cash, without interest, for each share of Misonix common stock they
hold, subject to proration based on an aggregate maximum cash
amount payable by Bioventus equal to $10.50 per share of Misonix
common stock outstanding shortly prior to the completion of the
transaction.
The aggregate share consideration to Misonix stockholders is
expected to represent approximately 25% of the combined company on
a fully-diluted basis. The aggregate per-share value for Misonix
represents approximately a 25% premium to Misonix’s 30-day VWAP as
of July 27, 2021, two trading days prior to the entry by Bioventus
and Misonix into the Merger Agreement. Subject to the satisfaction
of customary closing conditions, the acquisition is expected to
close on or around October 29, 2021.
About BioventusBioventus delivers clinically
proven, cost-effective products that help people heal quickly and
safely. Its mission is to make a difference by helping patients
resume and enjoy active lives. The Innovations for Active Healing
from Bioventus include offerings for pain treatment, restorative
therapies and bone graft substitutes. Built on a commitment to high
quality standards, evidence-based medicine and strong ethical
behavior, Bioventus is a trusted partner for physicians worldwide.
For more information, visit www.bioventus.com and follow the
Company on LinkedIn and Twitter. Bioventus and the Bioventus logo
are registered trademarks of Bioventus LLC.
About MisonixMisonix, Inc. (Nasdaq: MSON) is a
provider of minimally invasive therapeutic ultrasonic medical
devices and regenerative tissue products. Its surgical team markets
and sells BoneScalpel and SonaStar, which facilitate precise bone
sculpting and removal of soft and hard tumors and tissue, primarily
in the areas of neurosurgery, orthopedic, plastic and
maxillo-facial surgery. Misonix’ wound team markets and sells
TheraSkin, Therion, TheraGenesis and SonicOne to debride, treat and
heal chronic and traumatic wounds in inpatient, outpatient and
physician office sites of service. At Misonix, Better Matters! That
is why throughout Misonix’ history, Misonix has maintained its
commitment to medical technology innovation and the development of
products that radically improve outcomes for patients. Additional
information is available on the Misonix’ web site at
www.misonix.com.
Forward-Looking Statements Certain statements
contained in this press release may be considered forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements regarding the benefits to
Bioventus of the Misonix acquisition, the expected closing of the
acquisition and integration plans. 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 Misonix 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,
including, without limitation: (1) conditions to the closing of the
transaction may not be satisfied; (2) the transaction may involve
unexpected costs, liabilities or delays; (3) the respective
businesses of Bioventus and Misonix may suffer as a result of
uncertainty surrounding the transaction; (4) the outcome of any
legal proceedings related to the transaction; (5) Bioventus and
Misonix may be adversely affected by other economic, business,
and/or competitive factors; (6) the occurrence of any event, change
or other circumstances that could give rise to the termination of
the Merger Agreement; (7) the effect of the announcement of the
transaction on the ability of Bioventus or Misonix to retain and
hire key personnel and maintain relationships with customers,
suppliers and others with whom Bioventus or Misonix does business,
or on Bioventus’ or Misonix’s operating results and business
generally; and (8) other risks to consummation of the transaction,
including the risk that the transaction will not be consummated
within the expected time period or at all. Additional factors that
may affect the future results of Bioventus and Misonix are set
forth in their respective filings with the SEC, including
Bioventus’ most recent Form S-4 and definitive proxy statement
filed with Rule 424(b)(3) prospectus, Misonix’s most recent
definitive proxy statement, each of Bioventus’ and Misonix’s most
recently filed Annual Report on Form 10-K, subsequent Quarterly
Reports on Form 10-Q, Current Reports on Form 8-K and other filings
with the SEC, which are available on the SEC’s website at
www.sec.gov, specifically under the heading “Risk Factors.” The
risks and uncertainties described above and in Bioventus’ most
recent Quarterly Report on Form 10-Q and Misonix’s most recent
Quarterly Report on Form 10-Q are not exclusive and further
information concerning Bioventus and Misonix and their respective
businesses, including factors that potentially could materially
affect their respective businesses, financial condition or
operating results, may emerge from time to time. Readers are urged
to consider these factors carefully in evaluating these
forward-looking statements, and not to place undue reliance on any
forward-looking statements. Readers should also carefully review
the risk factors described in other documents that Bioventus and
Misonix file from time to time with the SEC. The forward-looking
statements in these materials speak only as of the date of these
materials. Except as required by law, Bioventus and Misonix assume
no obligation to update or revise these forward-looking statements
for any reason, even if new information becomes available in the
future.
Bioventus Media Contact:Thomas
HillBioventus919-474-6715thomas.hill@bioventus.com
Bioventus Investor Inquiries:Dave
CrawfordBioventus919-474-6787dave.crawford@bioventus.com
Misonix Contacts:Joe DwyerChief Financial
OfficerMisonix, Inc.631-927-9113
Misonix (NASDAQ:MSON)
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