MiMedx issues additional shares to participants of earlier financings

By Devika Patel

Knoxville, Tenn., June 9 - MiMedx Group, Inc. agreed to issue additional common shares to investors who had purchased stock in the private placements between September 2008 and March, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

On June 4, the company's board of directors decided to issue the shares in order to bring the cost of the shares down to $0.50 per share, so as to be fair to investors who had invested in the company when it was most in need of funding.

The company will issue 2.49 million additional shares as a result of this decision.

MiMedx is a Destin, Fla., developer of biomaterial-based products for use in the musculoskeletal specialties.

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