Impact BioMedical CEO says ‘well-positioned’ to drive long-term value

Impact BioMedical (IBO) announced that Frank Heuszel, Chairman and CEO of Impact BioMedical Inc., issued a letter to Impact BioMedical shareholders, which read in part, “We closed our first quarter as a publicly traded company and wanted to address all current and future stakeholders highlighting our recent achievements, our appreciation for your support, and some additional insights into why we are excited for the future and continued success of Impact BioMedical Inc! We are pleased to share this update on the heels of significant achievements after having just filed our quarterly report for the third quarter of 2024… On September 16, 2024, IBO successfully launched its Initial Public Offering, raising $4.5 million in capital. The 1.5 million shares included in the IPO are freely tradable on the NYSE. The remaining 10 million shares issued and outstanding are restricted from trading until March 2025. This key milestone for the company provides us with resources to accelerate our research and development initiatives, expand our market presence, and enhance shareholder value. Following the IPO, our company was officially listed on the NYSE American under the ticker IBO…For the third quarter of 2024, IBO reported net income of $4,241,000, reflecting our ability to drive value. September 30, 2024 year-to-date net income stands at $2,363,000. IBO has also made considerable progress in enhancing our financial stability and shareholder value. From June 30, 2024, to September 30, 2024, our shareholder equity increased from $28.26 million to $34.56 million, marking a $6.3 million increase. This represents growth of approximately $.54 per share. Additionally, as of the end of the third quarter, the company’s cash position was approximately $2.66 million, positioning us well for investment in strategic initiatives and operational needs…As part of our ongoing efforts to optimize our capital structure, we successfully restructured our long-term debt during the third quarter. This restructuring improves our financial flexibility, enabling repayment of the debt with company equity for 24 months allowing the Company to conserve cash, which will further enhance our ability to invest in growth and innovation…We are also actively collaborating with strategic partners to advance the development and funding of key assets. These partnerships are critical to driving the commercialization and monetization of our cutting-edge technologies…Moreover, we continue our pursuit of new products that have the potential to expand our portfolio and enhance the company’s value proposition. Our teams are focused on advancing these promising initiatives in the pipeline…The third quarter of 2024 was a period of sturdy growth and strategic progress for Impact BioMedical Inc. With the successful IPO, strong financial performance, improved balance sheet, and continued investment in innovation, we are well-positioned to drive long-term value for our shareholders. We remain committed to executing our strategic goals and look forward to updating you on our progress as it applies to all four of our core platform technologies. To further this point, we are hosting a LIVE WEBINAR on November 20th at 4:30 pm eastern time where you will have the opportunity to hear directly from myself as well as Mark Suseck and Todd Macko, where we will provide a full update on the company including our anticipated milestones and plans for the rest of 2024 and beyond.”