ROSELAND, N.J., Aug. 26, 2026 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced that three members of its Board of Directors have converted $465,000 of outstanding loans owed by the Company into common stock, eliminating the Company's outstanding note payable and resulting in a debt-free balance sheet.
The debt-to-equity conversion was completed effective August 19, 2026 at a rate of $0.50 per share, representing a 6.4% premium to the Company's closing market price of $0.47 per share on August 19, 2026. The conversion resulted in the issuance of 976,870 shares of common stock to the participating directors.
"This transaction represents a meaningful step forward in strengthening Milestone's financial position and demonstrates the continued confidence of our leadership in the Company's future," said Eric Hines, Chief Executive Officer of Milestone Scientific. "The decision by three directors to convert their outstanding loans into equity at a premium to the prevailing market price underscores their belief in Milestone and further aligns their interests with those of our shareholders. By eliminating our outstanding debt and strengthening stockholders' equity, we have a cleaner balance sheet and a stronger financial foundation as we continue to execute on our strategy and pursue opportunities for growth."
About Milestone Scientific Inc.
Milestone Scientific Inc. is a technology-focused medical research and development company that patents, designs, and develops innovative injection technologies and instruments for medical and dental applications. Milestone Scientific's computer-controlled systems are designed to make injections precise, efficient and increase the overall patient comfort and safety. Their proprietary DPS Dynamic Pressure Sensing Technology® instruments is the platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic. To learn more, view the MLSS brand video or visit milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2025. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Contact:
HAYDEN IR:
James Carbonara
(646)-755-7412
james@haydenir.com
Brett Maas
(646) 536-7331
brett@haydenir.com
