Misonix (MSON) Interim CEO Stavros Vizirgianakis Acquires 761K Shares

October 25, 2016 3:01 PM EDT

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Misonix, Inc. (NASDAQ: MSON), an international surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products for spine surgery, neurosurgery, wound debridement, skull based surgery, laparoscopic surgery and other surgical applications, announced today that Stavros Vizirgianakis, interim chief executive officer of Misonix, has invested $4 million through the purchase from the Company of 761,469 shares of Misonix common stock in a private placement at a price of $5.253 per share.

The shares acquired by Mr. Vizirgianakis are considered to be "restricted shares" under federal securities laws as they are acquired from the Company in a transaction not involving a public offering. The shares may not be sold without registration under the Securities Act of 1933, as amended, except in limited circumstances. Future disposition of the shares by Mr. Vizirgianakis will be governed by resale limitations imposed by Rule 144 of the Securities Act, as applicable.

Prior to this transaction Mr. Vizirgianakis beneficially owned 475,859 shares of Misonix common stock, or 6.1% of the outstanding shares. With the acquisition of the additional shares via this transaction, Mr. Vizirgianakis beneficially owns a total of 1,237,328 shares, or 14.4% of the outstanding shares and will become the Company's largest shareholder.

Mr. Vizirgianakis said, "I am pleased to acquire these additional shares. I believe that the ultrasonic surgical tools offered by Misonix represent state-of-the-art technology in executing spinal procedures and delicately managing wound treatment associated with diabetic ulcers and burn incidents. These are large and growing markets and Misonix is on the leading-edge in providing surgical and treatment options that can result in improved patient outcomes in a cost effective manner. As the interim chief executive officer of Misonix, I believe it is important that my financial interests be more closely aligned with those of the Company's loyal shareholders."

"This investment indicates my belief that the future for Misonix is bright," continued Mr. Vizirgianakis. "We have great technology, we have developed outstanding surgical tools and we have the personnel to take this company to the next level of its development. I am excited with the possibilities ahead."

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