IRVINE, Calif., June 27, 2025 (GLOBE NEWSWIRE) -- ReShape Lifesciences Inc. (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health-solutions company, today announced that on June 23, 2025, it received formal notice from The Nasdaq Stock Market, LLC ("Nasdaq") indicating that the Company has regained compliance with Nasdaq's stockholders equity requirement set forth in Nasdaq Listing Rule 5550(b)(1) and otherwise satisfies all other applicable criteria for continued listing on The Nasdaq Capital Market. As a result, the listing matter has been closed.
On May 28, 2025, Nasdaq notified the Company that its securities were subject to delisting from Nasdaq based on the Company's continued non-compliance with Nasdaq Listing Rule 5550(b)(1), which requires companies listed on The Nasdaq Capital Market to maintain a minimum of $2.5 million in stockholders' equity for continued listing.
As of March 31, 2025, the Company's stockholders' equity was $1.2 million. However (a) between June 3, 2025 and June 6, 2025, the Company sold 593,000 shares of common stock for gross proceeds of $3,642,564 pursuant to an equity distribution agreement with Maxim Group LLC in an "at-the-market" offering, as previously disclosed in the Company's prospectus supplement filed with the Securities and Exchange Commission ("SEC") on June 9, 2025 and (b) on June 9, 2025, the Company completed an offering of 1,054,604 shares of common stock for gross proceeds of $2,636,510, as previously disclosed in the Company's Form 8-K filed with the SEC on June 12, 2025.
About ReShape Lifesciences®
ReShape Lifesciences® is America's premier weight loss and metabolic health-solutions company, offering an integrated portfolio of proven products and services that manage and treat obesity and metabolic disease. The FDA-approved Lap-Band® System provides minimally invasive, long-term treatment of obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The investigational vagal neuromodulation system utilizes a proprietary vagus nerve block and stimulation technology platform for the treatment of type 2 diabetes and metabolic disorders. The Obalon® balloon technology is a non-surgical, swallowable, gas-filled intra-gastric balloon that is designed to provide long-lasting weight loss. For more information, please visit www.reshapelifesciences.com.
CONTACTS:
ReShape Lifesciences Contact:
Paul F. Hickey
President and Chief Executive Officer
949-276-7223
ir@ReShapeLifesci.com
Investor Relations Contact:
Rx Communications Group
Michael Miller
(917)-633-6086
mmiller@rxir.com
