Cosmos Health CEO Participated in the Last Fundraising of the Company

Rhea-AI Summary

Cosmos Health, Inc. (Nasdaq: COSM) has announced that CEO Greg Siokas invested $3 million in the company's recent financing round, bringing his total personal investment in 2022 to approximately $6 million. Siokas aims to align his interests with shareholders, having contributed around $13 million since 2019. The company completed three financing rounds in 2022, raising $46 million. Additionally, management anticipates a 50% reduction in debt by year-end 2022, driven by significant warrant exercises.

Positive

• CEO Greg Siokas invested an additional $3 million, enhancing alignment with shareholder interests.
• Total financing raised in 2022 reached $46 million across three rounds.
• Management expects a 50% decrease in debt by year-end 2022.

Negative

• None.

Re-affirming His Commitment to Growth and Profitability

CHICAGO, IL / ACCESSWIRE / December 22, 2022 / Cosmos Health, Inc. ("the Company") (Nasdaq:COSM), a global healthcare group with proprietary lines of nutraceuticals and distributor of pharmaceuticals, branded generics, OTC medications and medical devices, announced today that CEO Greg Siokas has participated with $3 million in the approximately $32.5 million financing of the Company completed yesterday, December 21, 2022, increasing to approximately $6 million his personal investments in the Company throughout 2022.

Greg Siokas, Chief Executive Officer of Cosmos Health stated, "I continue to be dedicated to the growth and future profitability of Cosmos Health. My personal financial interests are aligned with those of our loyal shareholders as evidenced by my total investments of approximately $13 million into COSM since 2019. With a firm belief that we have the products, the people and the strategy to establish Cosmos Health among the elite in the international health and wellness industry in the coming years, I have not sold any shares. I am appreciative of our loyal shareholders. I stand shoulder to shoulder with them and am committed to driving value on their behalf."

In calendar year 2022 Cosmos successfully completed three separate rounds of financings, with combined proceeds of $46 million. Furthermore, the Company has noted significant exercises of warrants in the month of November. As such, management now expects that by year end 2022, debt should decline by roughly 50% versus prior year levels.

About Cosmos Health, Inc

Cosmos Health Inc. (Nasdaq: COSM) is a global healthcare group that was incorporated in 2009 and is headquartered in Chicago, Illinois. Cosmos Health is engaged in the nutraceuticals sector through its own proprietary lines of products "Sky Premium Life" and "Mediterranation." Additionally, the Company is operating in the pharmaceutical sector through the provision of a broad line of branded generics and OTC medications and is involved in the healthcare distribution sector through its subsidiaries in Greece and UK serving retail pharmacies and wholesale distributors. Cosmos Health is strategically focused on the R&D of novel patented nutraceuticals (IP) and specialized root extracts as well as on the R&D of proprietary complex generics and innovative OTC products. Cosmos has developed a global distribution platform and is currently expanding throughout Europe, Asia and North America. Cosmos Health has offices and distribution centers in Thessaloniki and Athens, Greece and Harlow, UK. More information is available at www.cosmoshealthinc.com and www.skypremiumlife.com.

Forward-Looking Statements

With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements 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. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:
Lytham Partners, LLC
Ben Shamsian
E: shamsian@lythampartners.com
P: 646-829-9701

SOURCE: Cosmos Health Inc.

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https://www.accesswire.com/733046/Cosmos-Health-CEO-Participated-in-the-Last-Fundraising-of-the-Company

FAQ

What is the recent investment made by the CEO of Cosmos Health (COSM)?

CEO Greg Siokas invested $3 million in the recent financing round, raising his total personal investment in 2022 to approximately $6 million.

How much financing did Cosmos Health raise in 2022?

Cosmos Health raised a total of $46 million through three financing rounds in 2022.

What financial improvements does Cosmos Health expect by the end of 2022?

Cosmos Health expects a 50% reduction in debt compared to the previous year.

What is the significance of CEO Siokas's personal investments in Cosmos Health?

Siokas's investments signify his commitment to aligning his financial interests with those of the shareholders.