Brief: Motus GI Holdings Announces Exploration Of Strategic Alternatives

Motus GI Holdings

10/01/2023 13:45

Jan 10 (Reuters) - Motus GI Holdings Inc  MOTS.O :
    * MOTUS GI ANNOUNCES EXPLORATION OF STRATEGIC ALTERNATIVES
TO
ENHANCE SHAREHOLDER VALUE AND ANNOUNCES RESTRUCTURING PLAN
    * MOTUS GI HOLDINGS INC - COMPANY TO MOVE FORWARD WITH
REGULATORY
PROCESS AND COMMERCIAL READINESS FOR PURE-VU EVS GASTRO
    * MOTUS GI HOLDINGS INC - PLANS ON ELIMINATING APPROXIMATELY
45%
OF ITS WORKFORCE
    * MOTUS GI HOLDINGS INC - LAKE STREET CAPITAL MARKETS LLC
ENGAGED
TO ACT AS AN ADVISOR TO COMPANY
    * MOTUS GI HOLDINGS INC - BOARD OF DIRECTORS APPROVED
RESTRUCTURING PROGRAM WITH OBJECTIVE OF PRESERVING CAPITAL TO
ALIGN WITH STRATEGIC PROCESS TIMELINE
    * MOTUS GI - MANAGEMENT PLANS TO CONTINUE PROVIDING SALES &
SUPPORT FOR EXISTING PURE-VU EVS CUSTOMERS & PIPELINE
OPPORTUNITIES IN CONTRACTED HEALTH SYSTEMS
    * MOTUS GI - EXPECTS TO INCUR A NON-RECURRING CHARGE OF
ABOUT $1.0
TO 2.0 MILLION IN Q1 OF 2023 RELATED TO RESTRUCTURING

Source text for Eikon:  ID:nGNX8Zl15S 
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