SOUTH PLAINFIELD, NJ -- (Marketwired) -- 03/13/17 -- PolarityTE™, Inc., ("Polarity") (NASDAQ: COOL) today announced the voting results from it special meeting (the "Meeting") held on March 10, 2017.
A total of 3,369,498 shares of common stock, including shares of common stock underlying shares of outstanding preferred stock were represented at the Meeting. The shareholders voted on and approved all matters brought before the Meeting and obtained over 99% votes in favor to consummate the previously announced proposed merger between Majesco Entertainment Company and PolarityTE, Inc.
Denver Lough, Chairman and Chief Executive Officer of Polarity, stated, "We are excited to announce the near 100% shareholder support of the Polarity merger. We look forward to closing this merger and focusing exclusively on building Polarity into its full potential and beyond. The stockholders approval marks a significant milestone for Polarity and is the culmination of an extraordinary effort put forth by countless individuals. I want to take this moment to thank the Majesco family, including the entire Board of Directors, with particular gratitude to former CEO and Chairman of the Board, Barry Honig, and former Majesco CFO, now current Polarity CFO and Director, John Stetson. Barry and John demonstrated the ability to immediately share the vision of Polarity in the pursuit of constructing this merger."
About PolarityTE™, Inc.
PolarityTE™, Inc. is the owner of a novel regenerative medicine and tissue engineering platform developed and patented by Denver Lough MD, PhD. This radical and proprietary technology employs a patients' own cells for the healing of full-thickness functionally-polarized tissues. If clinically successful, the PolarityTE™ platform will be able to provide medical professionals with a truly new paradigm in wound healing and reconstructive surgery by utilizing a patient's own tissue substrates for the regeneration of skin, bone, muscle, cartilage, fat, blood vessels and nerves. It is because PolarityTE™ uses a natural and biologically sound platform technology, which is readily adaptable to a wide spectrum of organ and tissue systems, that the company and its world-renowned clinical advisory board, are poised to drastically change the field and future of translational regenerative medicine. More information can be found online at www.polarityte.com.
Forward Looking Statements
Certain statements contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements contained in this release relate to, among other things, the Company's ongoing compliance with the requirements of The NASDAQ Stock Market and the Company's ability to maintain the closing bid price requirements of The NASDAQ Stock Market on a post reverse split basis. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should'" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and other filings with the SEC (copies of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
Source: PolarityTE, Inc.
Released March 13, 2017