MiMedx Group Says Its Outstanding 95,000 Shares Of Series B Convertible Preferred Stock Were Converted Into Shares; As A Result Of This Conversion, Approximately 30M Common Shares Have Been Added To The Company's Share Count
Portfolio Pulse from Benzinga Newsdesk
MiMedx Group announced the conversion of its 95,000 shares of Series B Convertible Preferred Stock into approximately 30 million common shares, resulting in an increase in the company's share count.

December 28, 2023 | 1:13 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The conversion of MiMedx Group's Series B Convertible Preferred Stock into common shares has significantly increased the share count by approximately 30 million shares.
The conversion of preferred stock into a large number of common shares typically dilutes the value of existing shares. This dilution can lead to a decrease in the stock price in the short term as the market adjusts to the increased share count.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100