RSLS · United States
Cash Position
The company has 8.6 months of cash left based on the quarterly cash burn of $1.549 M and estimated current cash of $4.438 M
Commentary on Financial Condition
The company is facing significant financial challenges, with a net loss of $5.4 million for the nine months ended September 30, 2024, and insufficient cash resources to fund operations beyond twelve months, raising substantial doubt about its ability to continue as a going concern. The company has $0.8 million in cash and cash equivalents and has raised $0.7 million from a convertible note, but it anticipates running out of cash by the fourth quarter of 2024 if additional funds are not raised. Management is relying on a merger with Vyome Therapeutics and an asset sale to Biorad to sustain operations, but there is no assurance these plans will succeed., Filed At: 2024-11-14
Former Symbols
No former symbols for RSLS
Nasdaq Compliance
ReShape Lifesciences Inc. received a notice from Nasdaq on November 25, 2024, indicating non-compliance with the minimum stockholders' equity requirement of $2.5 million, as their equity was reported at $1,487,000 as of September 30, 2024. The company has 45 days to submit a plan to regain compliance, with a potential extension of up to 180 days if the plan is accepted, as filed on December 2, 2024. Filed At: 2024-12-02
Previous Splits
Disclaimer: Data was sourced from filings using AI and may occasionally contain errors. Data is split adjusted
In the money
potentially in play
out of play
Pending Offering
SHARE RESALE REGISTRATION | Shares amount: 11,698,161 | Share price: $0.23 | Warrants amount: 11,698,161 | Warrants exercise price: $0.23
WITHDRAWN
-
S-3
Warrants
(shareholder approval on 4/1/25) February 2025 - Warrant 1
$0.00
$0.00
Bigger Capital, CVI
will be reset to 14M warrants at $0 exercise price if approved on April 1, 2025
November 2023 - Warrants
$13.34
$0.00
Armistice
October 2023 - Warrants
$13.34
$0.00
Armistice
If we issue or agree to issue any common stock or Convertible Security at a price lower than the current exercise price of the common warrants, the exercise price of the common warrants will be reduced to match that lower price. However, the exercise price will not drop below 20% of the closing price of our common stock on the day before this offering's pricing. Additionally, 30 days after the common warrants are issued, the exercise price will adjust to the higher of 20% of the closing price on the day before the offering's pricing or 100% of the last volume-weighted average price before the 30th day, as long as this is less than the current exercise price.
April 2023 - Pre-Funded Warrants
$0.58
$3.07
Armistice
April 2023 - Warrants
$19.14
$0.00
Armistice
February 2023 - Warrants
$19.14
$0.00
N/A
November 2022 - Warrants
$19.14
$0.00
Armistice
June 2022 - Warrants
$19.14
$0.00
Armistice
July 2021 - Warrants
$19.14
$0.00
Armistice, Bigger Capital, District 2, Empery
June 2021 - Warrants
$19.14
$0.00
Armistice, Bigger Capital, District 2, Empery
Convertibles
October 2024 - - Senior Secured Convertible Note
$5.22
Institutional Investor
The conversion price is set at $5.22 and will be adjusted for stock dividends, splits, combinations, reclassifications, or similar transactions to maintain the Holder's percentage of shares and company value. The price will be rounded down to the nearest $0.01 but not below the Floor Price. Purchasers can seek damages or declare an Event of Default and pursue all legal remedies, including specific performance or injunctive relief, without limiting their rights to enforce damages under other sections or regulations.
ATM
Shelf
EXPIRED-September 2021 SHELF | Offering amount: $150,000,000.00
Equity Line
Completed Offerings
REGISTERED OFFERING
$19,140,000.00
424B5
Warrants exercise price: $0.00 | Offering amount: $35,000,000.00 | Bank: UBS Investment Bank, Canaccord Genuity, Stifel, BTIG
-
424B5
Tokens
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