|MiMedx Board of Directors Authorizes $10 Million Increase to the Company's Share Repurchase Program|
This action by the MiMedx Board of Directors authorizes an increase of $10 million to the Company's Share Repurchase Program. This action brings the total authorized to $76 million since the Share Repurchase Program commenced in May 2014. The Company reported that in light of the prevailing market conditions, the Company's available resources and other factors, the MiMedx Board of Directors believes the stock repurchases are a favorable investment for the Company. The Board agreed to review this program again at its scheduled meeting on
Parker H. "Pete" Petit, Chairman and CEO, stated, "Since the Share Repurchase Program commenced, our program has acquired approximately
Petit continued, "
"We believe the 'fake allegations and fake news' should be discredited when the Company publishes the key findings of the Report from the Audit Committee and the 2016 audited financial results on
MiMedx® is an integrated developer, processor and marketer of patent protected and proprietary regenerative biomaterial products and bioimplants processed from human amniotic membrane and other human birth tissues, such as amniotic fluid, umbilical cord and placental collagen, and human skin and bone. "Innovations in Regenerative Biomaterials" is the framework behind our mission to give physicians products and tissues to help the body heal itself. We process the human amniotic membrane utilizing our proprietary PURION® Process, to produce a safe and effective implant.
Safe Harbor Statement
This press release includes statements that look forward in time or that express management's beliefs, expectations or hopes. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, that the Company's stock repurchases are a favorable investment for the Company, the belief that the Company's stock price is very undervalued at present, the Company's expectations to continue the use of the share repurchase program to enhance shareholder value, the Company's belief that there are ongoing issues associated with naked short selling in the Company's stock, and the current rumors should dissipate considerably when the Company publishes the key findings of the Report from its Audit Committee and the Company's 2016 audited financial results. These statements are based on current information and belief, and are not guarantees of future performance. Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include that the stock repurchases may not be a favorable investment for the Company, the Board may not consider a substantial new commitment to the share repurchase program at its
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Michael Senken, Phone: (770) 651-9100; Investor Contact: COCKRELL GROUP, Rich Cockrell, 877-889-1972, firstname.lastname@example.org, cockrellgroup.com