Obalon Therapeutics Continues to Urge Stockholders to Vote FOR All Proposals Related to Merger with ReShape Lifesciences

Rhea-AI Summary

Obalon Therapeutics (NASDAQ:OBLN) is urging stockholders to vote on proposals related to its merger with ReShape Lifesciences ahead of the reconvened special meeting on May 25, 2021. Approval of the merger is critical, as failure to secure it could adversely affect Obalon and its stock price. Post-merger, Obalon shareholders will own around 49% of the combined entity, allowing them to benefit from its future growth. Eligible stockholders are reminded to vote by phone or online.

Positive

• Post-merger, Obalon shareholders will own approximately 49% of the combined company.
• The merger has potential for future growth opportunities for shareholders.

Negative

• Failure to approve the merger could result in a material adverse effect on Obalon and its stock price.

SAN DIEGO, CA / ACCESSWIRE / May 21, 2021 / Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated medical technology company with the first and only FDA-approved swallowable gas-filled intragastric balloon system for the treatment of obesity, is taking this opportunity to remind its stockholders to vote on all the proposals related to the proposed merger with ReShape Lifesciences Inc. in advance of the upcoming reconvened special meeting of Obalon stockholders (the "Special Meeting") on May 25, 2021, at 8:30 a.m. PT.

All stockholders are highly encouraged to vote by phone or email on this critical transaction. Without the required stockholder approval, the merger will not be able to be completed. The failure to complete the merger may result in, among other things, a material adverse effect on Obalon and its stock price.

After giving effect to the merger, Obalon stockholders will own approximately 49% of the stock of the combined company, and as a result, Obalon stockholders would have the opportunity to participate in any future growth of the combined company after the consummation of the merger. The Obalon board of directors has recommended that the Obalon stockholders vote FOR each of the proposals.

Obalon stockholders as of the close of business on April 7, 2021, the record date for the special meeting, are eligible to vote and attend the virtual special meeting whether or not they currently hold those shares.

All materials regarding the Obalon special meeting are available at www.virtualshareholdermeeting.com/OBLN2021SM.

Remember, Your Vote Is Important, No Matter How Many or How Few Shares You Own.

HOW TO VOTE
Obalon urges all stockholders of record who have not yet voted to do so by following the instructions on their proxy card to vote by phone or online.

If you have questions or require assistance in voting your proxy, please call our proxy solicitor MacKenzie Partners toll-free at (800) 322-2885 or by email at proxy@mackenziepartners.com for assistance.

About Obalon Therapeutics, Inc.
Obalon Therapeutics, Inc. (NASDAQ:OBLN) is a San Diego-based company focused on developing and commercializing novel technologies for weight loss.

Important Additional Information and Where to Find It
This communication is being made in respect of the proposed merger involving Obalon Therapeutics, Inc. and ReShape Lifesciences Inc. Obalon filed a registration statement on Form S-4 (File No. 333-254841) with the SEC. The Registration Statement on Form S-4 was declared effective on April 13, 2021. The final joint proxy and consent solicitation statement/prospectus was filed with the SEC on April 13, 2021 and was first sent to the stockholders of Obalon and ReShape on or about April 13, 2021. The final joint proxy and consent solicitation statement/prospectus contains important information about Obalon, ReShape, the proposed merger and related matters. STOCKHOLDERS ARE URGED TO READ THE FINAL JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS) AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY, AS THEY CONTAIN IMPORTANT INFORMATION THAT STOCKHOLDERS SHOULD CONSIDER BEFORE MAKING A DECISION ABOUT THE MERGER AND RELATED MATTERS. In addition to receiving the final joint proxy statement/prospectus and proxy card or voting instruction form by mail, stockholders will also be able to obtain the final joint proxy statement/prospectus, as well as other filings containing information about Obalon, without charge, from the SEC's website (http://www.sec.gov) or, without charge, by directing a written request to: Obalon Therapeutics, Inc., 5421 Avenida Encinas, Suite F, Carlsbad, CA 92008, Attention: Corporate Secretary.

SOURCE: ReShape Lifesciences Inc.

View source version on accesswire.com:
https://www.accesswire.com/648506/Obalon-Therapeutics-Continues-to-Urge-Stockholders-to-Vote-FOR-All-Proposals-Related-to-Merger-with-ReShape-Lifesciences

FAQ

What is the date of the special meeting for Obalon's merger with ReShape Lifesciences?

The special meeting is scheduled for May 25, 2021, at 8:30 a.m. PT.

Why is Obalon urging stockholders to vote on the merger proposals?

Obalon is urging stockholders to vote as failure to approve the merger could adversely affect the company and its stock price.

What percentage of the combined company will Obalon stockholders own post-merger?

Post-merger, Obalon stockholders will own approximately 49% of the combined company.

How can Obalon stockholders vote on the merger proposals?

Stockholders can vote by phone or online following the instructions on their proxy card.

What happens if the merger between Obalon and ReShape Lifesciences is not approved?

If the merger is not approved, it may lead to a material adverse effect on Obalon and its stock price.