MIMEDX Announces Conversion of Outstanding Series B Convertible Preferred Stock to Common Stock

MARIETTA, Ga., Dec. 28, 2023 (GLOBE NEWSWIRE) — MiMedx Group, Inc. (Nasdaq: MDXG)

MiMedx Group, Inc. announced that its outstanding 95,000 shares of Series B Convertible Preferred Stock were automatically converted into shares of the Company’s Common Stock on December 22, 2023. This conversion included any accrued dividends and was done in accordance with the Company’s certificate of incorporation.

What does this mean for MiMedx Group, Inc.?

By converting the Series B Convertible Preferred Stock into Common Stock, MiMedx Group, Inc. simplifies its capital structure and potentially increases its liquidity. This move could also make the company more attractive to investors, as it eliminates the dividend obligations associated with the Preferred Stock.

Additionally, the conversion signals confidence in the Company’s future prospects and may align with its long-term growth strategy. Overall, this decision by MiMedx Group, Inc. reflects a proactive approach to optimizing its financial position and potentially unlocking value for shareholders.

How will this affect me?

As a shareholder of MiMedx Group, Inc., the conversion of the Series B Convertible Preferred Stock to Common Stock could impact the value of your investment. This change may influence the stock price and trading dynamics of the Company, potentially leading to new opportunities or risks for investors. It is advisable to stay informed about MiMedx Group, Inc.’s financial performance and market developments following this conversion.

How will this affect the world?

The conversion of MiMedx Group, Inc.’s Preferred Stock to Common Stock may have broader implications for the healthcare industry and financial markets. It could signal stability and growth potential within the Company, which may have ripple effects on related sectors and stakeholders. As MiMedx Group, Inc. adjusts its capital structure, it may contribute to market trends and investor sentiment in the healthcare and biotechnology fields.

Conclusion

The conversion of MiMedx Group, Inc.’s Series B Convertible Preferred Stock to Common Stock represents a strategic move to streamline the Company’s financial structure and enhance shareholder value. This decision signifies confidence in MiMedx Group, Inc.’s future trajectory and may have implications for investors and the broader market. By staying informed and monitoring developments, stakeholders can better understand the impact of this significant change.