DGAP-News

ReShape Lifesciences Inc. and Obalon Therapeutics, Inc. Update on Status of Pending Merger

DGAP-News: ReShape Lifesciences Inc. / Key word(s): Merger ReShape Lifesciences Inc. and Obalon Therapeutics, Inc. Update on Status of Pending Merger 08.06.2021 / 13:30 The issuer is solely responsible for the content of this announcement. ReShape Lifesciences Inc. and Obalon Therapeutics, Inc. Update on Status of Pending Merger

Topic:

Mergers and Acquisitions

SAN CLEMENTE, CA and SAN DIEGO, CA / ACCESSWIRE / June 8, 2021

/ ReShape Lifesciences Inc. (OTCQB:RSLS) and Obalon Therapeutics, Inc. (NASDAQ:OBLN) announced today that the parties anticipate the closing of their previously announced merger to occur promptly after approval of their pending Nasdaq listing application. While there can be no assurance that the listing application will be approved, Nasdaq approval is the sole remaining condition to closing in the merger agreement (other than conditions that the parties anticipate being satisfied at the closing). Upon the closing of the merger, shares of common stock of the combined company are expected to commence trading on The Nasdaq Capital Market under the name ReShape Lifesciences Inc. and the trading symbol "RSLS."

At a special meeting of stockholders of ReShape held on May 13, 2021, ReShape's stockholders approved the merger and the other transactions contemplated by the definitive merger agreement. At a special meeting of stockholders of Obalon held on May 25, 2021, Obalon's stockholders approved the issuance of shares of Obalon's common stock to the stockholders of ReShape and an amendment to Obalon's certificate of incorporation to authorize the Obalon board of directors to effect a reverse stock split.

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(R) and associated program provide minimally invasive, long-term treatment of obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The ReShape Vest(TM) 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 obese and morbidly obese patients with rapid weight loss without permanently changing patient anatomy. The recently launched ReShapeCare(TM) 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.