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
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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
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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.
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