{"id":724764,"date":"2023-01-20T09:28:06","date_gmt":"2023-01-20T14:28:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sientra-announces-1-for-10-reverse-stock-split\/"},"modified":"2023-01-20T09:28:06","modified_gmt":"2023-01-20T14:28:06","slug":"sientra-announces-1-for-10-reverse-stock-split","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sientra-announces-1-for-10-reverse-stock-split\/","title":{"rendered":"Sientra Announces 1-for-10 Reverse Stock Split"},"content":{"rendered":"
\n

IRVINE, Calif., Jan. 20, 2023 (GLOBE NEWSWIRE) — Sientra, Inc. (NASDAQ: SIEN) (\u201cSientra\u201d or the \u201cCompany\u201d), a medical aesthetics company uniquely focused on plastic surgeons, today announced that its Board of Directors has approved a 1-for-10 reverse stock split of the Company\u2019s issued and outstanding common stock (the \u201cReverse Stock Split\u201d). The Reverse Stock Split was effective at 4:00 p.m. Eastern Time on January 19, 2023. The Company\u2019s common stock is expected to begin trading on The Nasdaq Global Market on a split-adjusted basis on January 23, 2023.<\/p>\n

The Company\u2019s stockholders previously approved the Reverse Stock Split at the annual meeting of stockholders held on January 12, 2023 at a ratio ranging from 1-for-5 up to a ratio of 1-for-15, such ratio and the implementation and timing of such Reverse Stock Split to be determined by the Company\u2019s Board of Directors.<\/p>\n

The principal purpose of the Reverse Stock Split is to decrease the total number of shares of common stock outstanding and proportionately increase the market price of the common stock in order to meet the continuing listing requirements of The Nasdaq Global Market. In connection with the Reverse Stock Split, the Company\u2019s CUSIP number will change to 82621J204 as of January 23, 2023. The Company\u2019s common stock will continue to trade under the symbol \u201cSIEN.\u201d<\/p>\n

As a result of the Reverse Stock Split, every 10 shares of the Company\u2019s common stock issued and outstanding will be automatically reclassified into one new share of common stock. The Reverse Stock Split will not modify any rights or preferences of the shares of the Company\u2019s common stock. Proportionate adjustments will be made to the exercise prices and the number of shares underlying the Company\u2019s outstanding equity awards, as applicable, and warrants, as well as to the number of shares issued and issuable under the Company\u2019s equity incentive plans. The common stock issued pursuant to the Reverse Stock Split will remain fully paid and non-assessable. The Reverse Stock Split will not affect the number of authorized shares of common stock or the par value of the common stock nor will it change the authorized shares of Preferred Stock or the relative voting power of such holders of our outstanding common stock and Preferred Stock.<\/p>\n

No fractional shares will be issued in connection with the Reverse Stock Split. Stockholders who would otherwise be entitled to receive fractional shares as a result of the Reverse Stock Split will be entitled to a cash payment in lieu thereof at a price equal to the fraction to which the stockholder would otherwise be entitled multiplied by the closing trading price per share of the common stock (as adjusted for the reverse stock split) on the Nasdaq Global Market on the trading day immediately preceding the effective time of the reverse stock split.<\/p>\n

Computershare Inc. has been appointed by the Company to act as its exchange agent for the reverse stock split. Stockholders owning pre-split shares via a bank, broker or other nominee will have their positions automatically adjusted to reflect the Reverse Stock Split and will not be required to take further action in connection with the Reverse Stock Split, subject to brokers\u2019 particular processes. Similarly, registered stockholders holding pre-split shares of the Company’s common stock electronically in book-entry form are also not required to take further action in connection with the Reverse Stock Split. Holders of certificated shares will be contacted by the Company or its exchange agent with further details about how to surrender old certificates.<\/p>\n

Additional information about the Reverse Stock Split can be found in the Company\u2019s definitive proxy statement filed with the Securities and Exchange Commission (the \u201cSEC\u201d) on November 29, 2022, which is available free of charge at the SEC\u2019s website, www.sec.gov, and on the Company\u2019s website at www.sientra.com.<\/p>\n

\n About Sientra<\/strong>\n <\/p>\n

Headquartered in Irvine, California, Sientra is a medical aesthetics company exclusively focused on plastic surgery. The Company\u2019s mission is to offer proprietary innovations and unparalleled partnerships that radically advance how plastic surgeons think, work and care for their patients. Sientra has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company\u2019s product portfolio includes its Sientra round and shaped breast implants, the first fifth generation breast implants approved by the FDA for sale in the United States, its ground-breaking Allox2\u00ae<\/sup>\u00a0breast tissue expander with patented dual-port and integral drain technology, the AuraGen fat grafting system, and BIOCORNEUM\u00ae<\/sup>, the #1 performing, preferred and recommended scar gel of plastic surgeons(*).<\/p>\n

\n (*<\/sup>
\n )<\/sup>\u00a0\u00a0Data<\/em>\u00a0on file<\/em><\/p>\n

FORWARD-LOOKING STATEMENTS<\/p>\n

\n This press release contains \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, based on management\u2019s current assumptions and expectations of future events and trends, which affect or may affect the Company\u2019s business, strategy, operations or financial performance, and actual results may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements are made only as of the date of this release. The words \u2018\u2018believe,\u2019\u2019 \u2018\u2018may,\u2019\u2019 \u2018\u2018might,\u2019\u2019 \u2018\u2018could,\u2019\u2019 \u2018\u2018will,\u2019\u2019 \u2018\u2018aim,\u2019\u2019 \u2018\u2018estimate,\u2019\u2019 \u2018\u2018continue, \u2018\u2018anticipate,\u2019\u2019 \u2018\u2018intend,\u2019\u2019 \u2018\u2018expect,\u2019\u2019 \u2018\u2018plan,\u2019\u2019 \u2018\u2018position,\u201d or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections and other forward-looking statements.<\/em>
\n \u00a0<\/em>
\n All such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, which could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to, risks related to: the Company\u2019s history of operating losses, the Company\u2019s ability to successfully commercialize its products, inherent risk and uncertainty in the protection of intellectual property rights, ability to maintain gross margins, regulatory uncertainties regarding approval or clearance for the Company\u2019s products,\u00a0the positive reaction from plastic surgeons and their patients to Sientra\u2019s Breast Products, the ability to meet consumer demand, the Company\u2019s ability to\u00a0manage its operating expenses and cash balance, as well as other risks and uncertainties described under the \u201cRisk Factors\u201d contained in the Company\u2019s periodic and interim SEC reports, including but not limited to, the preliminary prospectus supplement relating to this offering, its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its Quarterly Reports on From 10-Q, and its Current Reports on Form 8-K filed from time to time with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and the Company does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events<\/em>.<\/p>\n

\n Contact: <\/em>\n <\/p>\n

Investor Relations
(805) 679-8845<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

IRVINE, Calif., Jan. 20, 2023 (GLOBE NEWSWIRE) — Sientra, Inc. (NASDAQ: SIEN) (\u201cSientra\u201d or the \u201cCompany\u201d), a medical aesthetics company uniquely focused on plastic surgeons, today announced that its Board of Directors has approved a 1-for-10 reverse stock split of the Company\u2019s issued and outstanding common stock (the \u201cReverse Stock Split\u201d). The Reverse Stock Split was effective at 4:00 p.m. Eastern Time on January 19, 2023. The Company\u2019s common stock is expected to begin trading on The Nasdaq Global Market on a split-adjusted basis on January 23, 2023. The Company\u2019s stockholders previously approved the Reverse Stock Split at the annual meeting of stockholders held on January 12, 2023 at a ratio ranging from 1-for-5 up to a ratio of 1-for-15, … <\/p>\n

Continue reading “Sientra Announces 1-for-10 Reverse Stock Split”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-724764","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSientra Announces 1-for-10 Reverse Stock Split - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sientra-announces-1-for-10-reverse-stock-split\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sientra Announces 1-for-10 Reverse Stock Split - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"IRVINE, Calif., Jan. 20, 2023 (GLOBE NEWSWIRE) — Sientra, Inc. (NASDAQ: SIEN) (\u201cSientra\u201d or the \u201cCompany\u201d), a medical aesthetics company uniquely focused on plastic surgeons, today announced that its Board of Directors has approved a 1-for-10 reverse stock split of the Company\u2019s issued and outstanding common stock (the \u201cReverse Stock Split\u201d). The Reverse Stock Split was effective at 4:00 p.m. Eastern Time on January 19, 2023. The Company\u2019s common stock is expected to begin trading on The Nasdaq Global Market on a split-adjusted basis on January 23, 2023. The Company\u2019s stockholders previously approved the Reverse Stock Split at the annual meeting of stockholders held on January 12, 2023 at a ratio ranging from 1-for-5 up to a ratio of 1-for-15, … Continue reading "Sientra Announces 1-for-10 Reverse Stock Split"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/sientra-announces-1-for-10-reverse-stock-split\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-20T14:28:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODczMzI0NCM1MzY1MjQxIzIwMTY1MzU=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sientra-announces-1-for-10-reverse-stock-split\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sientra-announces-1-for-10-reverse-stock-split\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Sientra Announces 1-for-10 Reverse Stock Split\",\"datePublished\":\"2023-01-20T14:28:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sientra-announces-1-for-10-reverse-stock-split\\\/\"},\"wordCount\":1158,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sientra-announces-1-for-10-reverse-stock-split\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODczMzI0NCM1MzY1MjQxIzIwMTY1MzU=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sientra-announces-1-for-10-reverse-stock-split\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sientra-announces-1-for-10-reverse-stock-split\\\/\",\"name\":\"Sientra Announces 1-for-10 Reverse Stock Split - 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