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ReShape Lifesciences® Enters into Warrant Exercise Transaction for $1.2 Million in Gross Proceeds

IRVINE, Calif., Nov. 21, 2023 (GLOBE NEWSWIRE) — ReShape Lifesciences, Inc. (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health solutions company, announced today that it has entered into a warrant exercise agreement with an existing accredited investor to exercise outstanding warrants to purchase an aggregate of 5,382,500 shares of the company’s common stock. In consideration for the immediate exercise of the existing warrants for cash, the exercising holder received new unregistered warrants to purchase up to an aggregate of 10,765,000 shares (equal to 200% of the shares of common stock issued in connection with the exercise) of the company’s common stock. In connection with the exercise, the company also agreed to reduce the exercise price of the 5,382,500 exercised warrants and 6,960,351 remaining unexercised warrants to $0.23, which is equal to the most recent closing price of the company’s common stock on The Nasdaq Capital Market prior to the execution of the warrant exercise agreement.