Motus GI (MOTS) Amends Royalty Agreement

Motus GI Holdings, Inc., (NASDAQ: MOTS) (“Motus GI” or the “Company”), a medical technology company focused on improving endoscopic outcomes and experiences, announced today it has reached an agreement to amend the royalty payment rights and, subsequently, cancelled the royalty rights in exchange for an aggregate of 1,455,641 shares of Motus common stock, effective as of September 12, 2023. This represents an approximate exchange ratio of 13,233.23 shares of common stock for each 1.0% of the aggregate royalty amount.

The cancellation of the royalty rights will result in an elimination of approximately $1.0 million in contingent royalty obligations from the Motus balance sheet, which is expected to help improve Motus’s stockholder equity.

“We appreciate the willingness of the requisite number of our royalty holders necessary to come to an agreement with the Company in order to amend their royalty rights and allow us to exchange shares of our common stock for the royalty rights. This amendment will strengthen our balance sheet and enhance our shareholder equity,” commented Mark Pomeranz, Chief Executive Officer. “We believe eliminating these royalty obligations simplifies our ongoing efforts in seeking strategic and financing alternatives aimed at accelerating commercialization of the Pure-Vu System and maximizing stockholder value. In addition, we are on track with the planned submission of a special 510(k) to the FDA by early Q4 2023 for the next generation of the Pure Vu EVS system. This regulatory submission will bring us one step closer to being able to commercially launch our next generation system in the market, expanding the Pure-Vu EVS platform’s capabilities into supporting upper GI procedures.”

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