MYOS CORP, Formerly Known as Myos Rens Technology, Inc., Issues Notice to its Shareholders
CEDAR KNOLLS, N.J., Dec. 15, 2020 /PRNewswire/ -- MYOS ("MYOS" or the "Company"), is a research-based advanced nutrition company with divisions that address both Human Nutrition and Animal Health. MYOS is the sole owner of Fortetropin®, a proprietary advanced nutrition product developed and owned by MYOS, that has been shown in multiple veterinary and human clinical studies to accelerate gains in muscle mass, improve mobility and enhance recovery from injury.
On November 17, 2020, Nasdaq-listed Myos Rens Technology, Inc. ("MYOS RENS") consummated the previously announced merger of its wholly owned subsidiary with and into MedAvail, Inc., a privately held Delaware corporation (the "Merger"), after which MYOS RENS was renamed MedAvail Holdings, Inc. ("MedAvail") and the stock symbol of the company was changed to MDVL.
In connection with the Merger, all of the assets and liabilities of MYOS RENS' business prior to the Merger were contributed to MYOS, then a wholly owned subsidiary of MYOS RENS. Following the Merger, the shares of MYOS were paid as a dividend to the shareholders of MYOS RENS existing prior to the Merger. As a result, 100% of MYOS RENS' pre-Merger business will continue as a private company through MYOS.
What this means to MYOS RENS Shareholders as of the Record Date of October 2, 2020:
Thank you for investing in our company.
If you held MYOS RENS shares on the record date of October 2, 2020, those shares entitled you to receive part of the dividend of MYOS shares. In addition, following a reverse split completed prior to the Merger, you continue to hold the shares of MYOS RENS (now MedAvail) you had before, as adjusted for the reverse stock split of a 12-1 ratio of one new share for every 12 shares of common stock outstanding. This means that you now own MDVL shares, which can be traded on the open market (but, of course, check with your broker).
As of November 23, 2020, MYOS shares were paid in a dividend on a one-share-for-one-share basis to every MYOS RENS shareholder of record on October 2, 2020. In other words, for each share of old MYOS RENS that you held before the reverse stock split, you received one share of MYOS stock. This means that, in addition to the shares you own in MDVL, you still own an interest in MYOS RENS' business, but as a shareholder in MYOS, the private company. Your shares in MYOS, however, cannot be traded on in the open market and are either being held at your broker or at TranShare, our transfer agent, as MYOS is a private company.
Please contact Kim Whiteside, our transfer agent, for more information:
About MYOS CORP
*The foregoing statements have not been evaluated by the Food and Drug Administration. Our products are not intended to diagnose, treat, cure, or prevent any disease.
View original content to download multimedia:http://www.prnewswire.com/news-releases/myos-corp-formerly-known-as-myos-rens-technology-inc-issues-notice-to-its-shareholders-301193415.html
SOURCE MYOS CORP