OBLN Stock Price: 30.04% Increase Explanation

By Amit Chowdhry ● May 23, 2021
  • The stock price of Obalon Therapeutics Inc (NASDAQ: OBLN) increased by 30.04% on Friday May 21. This is why it happened.

The stock price of Obalon Therapeutics Inc (NASDAQ: OBLN) – a vertically integrated medical technology company with the first and only FDA-approved swallowable gas-filled intragastric balloon system for the treatment of obesity – increased by 30.04% on Friday May 21. Investors appear to be responding positively to the upcoming planned merger between Obalon and ReShape Lifesciences.

Obalon had issued a press release to remind stockholders to vote on all the proposals related to the proposed merger with ReShape Lifesciences in advance of the upcoming reconvened special meeting of Obalon stockholders on May 25, 2021, at 8:30 a.m. PT.

Following the merger, Obalon stockholders will own approximately 49% of the stock of the combined company. And as a result, Obalon stockholders would have the opportunity to participate in any future growth of the combined company after the consummation of the merger. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.