Motus GI Holdings amends royalty agreement

Motus GI Holdings announced it has reached an agreement to amend the royalty payment rights and, subsequently, cancelled the royalty rights in exchange for an aggregate of 1,455,641 shares of Motus common stock, effective as of September 12. This represents an approximate exchange ratio of 13,233.23 shares of common stock for each 1% of the aggregate royalty amount. The cancellation of the royalty rights will result in an elimination of approximately $1M in contingent royalty obligations from the Motus balance sheet, which is expected to help improve Motus’s stockholder equity.