Misonix interim CEO Vizirgianakis puts $4m into company

Misonix (NSDQ:MSON) said today its interim CEO Stavros Vizirgianakis invested $4 million into the company through the purchase of 761,469 shares at $5.25 per share.

The shares purchased are considered to be “restricted shares,” as they were acquired in a transaction not involving a public offering. The shares, therefore, cannot be sold without appropriate registration under the Securities Act of 1933, the Farmingdale, N.Y.-based company said.

“I am pleased to acquire these additional shares. I believe that the ultrasonic surgical tools offered by Misonix represent state-of-the-art technology in executing spinal procedures and delicately managing wound treatment associated with diabetic ulcers and burn incidents. These are large and growing markets and Misonix is on the leading-edge in providing surgical and treatment options that can result in improved patient outcomes in a cost effective manner. As the interim chief executive officer of Misonix, I believe it is important that my financial interests be more closely aligned with those of the company’s loyal shareholders,” CEO Vizirgianakis said in a press release.

Prior to the purchase, CEO Vizirgianakis owned 475,859 shares of common stock, or 6.1%. With the additional shares, he owns 1.24 million shares, or 14.4%, and is the largest shareholder in Misonix.

“This investment indicates my belief that the future for Misonix is bright. We have great technology, we have developed outstanding surgical tools and we have the personnel to take this company to the next level of its development. I am excited with the possibilities ahead,” CEO Vizirgianakis said prepared remarks.

In September, former Misonix CEO Michael McManus, Jr. stepped down, leaving his post as director and chairman of the board of directors. Stavros Vizirgianakis became interim CEO while negotiating for a full-time position in the corner office.

Vizirgiankis, who owned a South African distribution company that worked with Misonix in September 2010, has served on Misonix’s board since May 2013.

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