CHICAGO, IL, - April 7, 2015 (PRNewswire) -- Positron Corporation (OTCBB:POSC), a nuclear medicine healthcare company (“Positron” or the “Company”), today announced the approval of its reverse stock split of Positron common stock on a 1-for-400 basis. The Company anticipates the split will be effective on April 8, 2015. At the opening of trading on that day, Positron’s common stock will begin trading on a 1:400 reverse split-adjusted basis.
“The completion of this reverse stock split is an important step in Positron’s plans as we move forward with a reasonable and easily identifiable capitalization structure. As interests in cardiac PET expands, so will the demand for imaging agents and technology. Positron has infrastructure in place to supplement the Sr-82 and PET technology market and continues to make progress in key areas of this business. With a significant reduction of debt combined with lower operational costs and a more traditional capitalization structure, we will be able to raise awareness and visibility to cardiac PET and healthcare investors alike,” said Corey Conn, Positron’s Chief Financial Officer.
As previously disclosed, upon effectiveness of the reverse stock split, every four hundred (400) shares of issued Positron Corporation common stock will be automatically converted into one (1) share of common stock. Positron’s symbol will be POSCD for a period of 20 trading days to signify that the stock split has occurred.
Positron Corporation is a nuclear medicine healthcare company that specializes in the business of cardiac PET imaging. Positron is vertically integrating critical segments of nuclear cardiology to provide an end-to-end solution for cardiac PET customers. The Company's products and services include positron emission tomography (PET) molecular imaging systems, clinical support, radioisotope processing and production services specifically for cardiac imaging. Positron enables healthcare providers to more accurately diagnose disease and improve patient outcomes, while practicing cost effective medicine. Positron’s unique products, market position and approach in securing the supply chain are substantial advantages, further accelerating the adoption of cardiac PET and growth of nuclear cardiology. www.positron.com.
Forward Looking Statements:
Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Positron Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Positron assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as “Risk Factors” in our filings with the Securities and Exchange Commission.
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