Exhibit 99.2
Employee Communication
Intended for email distribution to all RTI Surgical employees immediately following the Form12b-25 press release.
Dear Colleagues,
We continue to monitor the progression ofCOVID-19 (the coronavirus) and its evolving impact on the communities across the world where we operate and serve. We understand there is a significant amount of uncertainty and unpredictability worldwide, particularly as many of our communities are closing schools and universities and cancelling large group gatherings. Our highest priority remains the health and safety of our employees; please continue to take preventive measures and protect your health. Later this week, in lieu of a Town Hall, I’ll share a video message to the organization to avoid a large company gathering as a precaution.
Today, RTI announced it will file it will file a Form12b-25 Notification of Late Filing with the Securities and Exchange Commission (SEC). This provides RTI a15-calendar day extension within which to file our Form10-K for the fiscal year ended December 31, 2019.
The delay in filing the Form10-K is due to an investigation underway by the Audit Committee of RTI’s Board of Directors. The Audit Committee initiated an internal investigation regarding RTI’s revenue recognition practices related primarily to certain OEM customer contracts. The Audit Committee investigation was precipitated by an ongoing SEC investigation related to the periods 2014 through 2016, when RTI was under previous management.
The Company will not file its Form10-K until the Audit Committee concludes its investigation and the Company and its independent auditor assess the results of that investigation. Following the filing of our10-K, we then expect to file the preliminary proxy statement for the special meeting of RTI shareholders to consider and vote on various proposals necessary to close the sale of the OEM business to Montagu. We are making significant progress ensuring both our Spine and OEM businesses are well-positioned for continuity, autonomy and future growth, and we continue to expect the sale to close in the first half of 2020.
This is a unique time for RTI Surgical, and we look forward to overcoming the delays caused by this investigation. These matters should not affect ourday-to-day business operations or our commitments to our customers, patients and each other. I am very proud of how far we have come in driving operational excellence, demonstrating teamwork and a growth mindset and building customer centricity. Thank you for your continued focus on delivering high-quality products and services to our customers and patients.
Sincerely,
Camille
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which may include statements regarding RTI Surgical Holdings’ ability to file its Form10-K for the year ended December 31, 2019 within the extension period and RTI Surgical