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ReShape Lifesciences Closes First Day of Trading on the NASDAQ Capital Market

Shares of ReShape Lifesciences commenced trading on The Nasdaq Capital Market at market open on June 16, 2021 under the ticker symbol “RSLS”

ReShape Lifesciences Inc. (NASDAQ:RSLS), a global weight-loss solutions leader, announced that its common stock effectively traded at a first day volume of over 3.5 million shares on The Nasdaq Capital Market under the ticker symbol “RSLS”, following the previously announced completion of its merger with Obalon Therapeutics, Inc.

“Listing on Nasdaq has been one of the Company’s top strategic goals, and we are very pleased to have achieved this important milestone,” commented Bart Bandy, President and Chief Executive Officer of ReShape Lifesciences. “We are excited to capitalize on the benefits of being a Nasdaq listed company and deliver on our mission to become the premier physician led weight loss solutions company, currently anchored by the Lap-Band® System with over 1,000,000 worldwide placements and the company’s recently launched reshapecare™ virtual health program that is reimbursed through many major insurance carriers.”

About ReShape Lifesciences Inc.

ReShape Lifesciences is America’s premier weight-loss solutions company, offering an integrated portfolio of proven products and services that manage and treat obesity and metabolic disease. The FDA-approved Lap-Band® program provides minimally invasive, long-term treatment of obesity and is an alternative to more invasive surgical stapling procedures such as gastric bypass or sleeve gastrectomy. The ReShape Vest™ System is an investigational (outside the U.S.) minimally invasive, laparoscopically implanted medical device that wraps around the stomach, emulating the gastric volume reduction effect of conventional weight-loss surgery. It helps enable rapid weight loss in obese and morbidly obese patients without permanently changing patient anatomy. The recently launched reshapecare™ virtual health coaching program is a virtual telehealth weight management program that supports lifestyle changes for all weight-loss patients, to help them keep the weight off over time.

Forward-Looking Safe Harbor Statement:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by the use of words such as “expect,” “plan,” “anticipate,” “could,” “may,” “intend,” “will,” “continue,” “future,” other words of similar meaning and the use of future dates. Forward-looking statements in this press release include statements about the company’s goals to capitalize on the benefits of being a Nasdaq listed company and deliver on its mission to become the premier physician-led weight loss solutions company. These forward-looking statements are based on the current expectations of our management and involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the failure to integrate the businesses and realize synergies and cost-savings from the merger or delay in realization thereof; operating costs and business disruption following the merger; transaction costs; actual or contingent liabilities; the adequacy of the combined company’s capital resources; other business effects, including the effects of industry, economic or political conditions outside of ReShape’s control; and the risks identified under the heading “Risk Factors” in ReShape’s Annual Report on Form 10-K, which was filed with the SEC on March 11, 2021, and Obalon’s Annual Report on Form 10-K, filed with the SEC on March 12, 2021, as well as both companies’ subsequent Quarterly Reports on Form 10-Q and other information filed by each company with the SEC. These and additional risks and uncertainties are described more fully in ReShape’s and Obalon’s filings with the SEC. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law.

Company Contact:

Thomas Stankovich
Chief Financial Officer
ReShape Lifesciences Inc.

Investor Contacts:

James Salierno/Daniel Kontoh-Boateng
Vice President
The Ruth Group

SOURCE: ReShape Lifesciences Inc.

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