Assure Holdings Corp. Closes $6.2 Million Underwritten Public Offering of Common Stock

DENVER, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Assure Holdings Corp. (NASDAQ: IONM) ("Assure Holdings" or the "Company"), a provider of intraoperative neuromonitoring (“IONM”) and remote neurology services, announced the closing of an underwritten public offering with gross proceeds to the Company of approximately $6.2 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering equates to 5,576,087 shares at a price to the public of $1.12 per share. The Company intends to use the net proceeds from this offering for general corporate purposes, including, but not limited to, repayment of indebtedness and increasing working capital expenditures.

In addition, the Company granted the underwriter a 45-day option to purchase additional shares of common stock, representing up to 15% of the number of the shares offered in the base deal, solely to cover over-allotments, if any, which would increase the total gross proceeds of the offering to approximately $7.2 million, if the over-allotment option is exercised in full.

Aegis Capital Corp. is acting as the sole book-running manager for the offering

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-266730) previously filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective by the SEC on August 17, 2022. A final prospectus supplement and accompanying prospectus (collectively, the "Prospectus") describing the terms of the proposed offering was filed with the SEC and is available on the SEC's website located at Electronic copies of the Prospectus may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at , or by telephone at (212) 813-1010.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sales of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Assure Holdings

Assure Holdings Corp. is a provider of outsourced intraoperative neuromonitoring and remote neurology services. The Company delivers a turnkey suite of clinical and operational services to support surgeons and medical facilities during invasive procedures that place the nervous system at risk including neurosurgery, spine, cardiovascular, orthopedic and ear, nose and throat surgeries. Assure Holdings employs highly trained technologists that provide a direct point of contact in the operating room. Physicians employed through Assure Holdings subsidiaries simultaneously monitor the functional integrity of patients’ neural structures throughout the procedure communicating in real-time with the surgeon and technologist. Accredited by The Joint Commission, Assure Holdings’ mission is to provide exceptional surgical care and a positive patient experience.

Forward-Looking Statements

This release contains 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.

Contact

Scott Kozak, Investor and Media Relations

Assure Holdings Corp.

(720) 617-2526