NeuroMetrix (NURO) Prices 10.5 Million Unit Offering at $1/unit
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NeuroMetrix, Inc. (Nasdaq: NURO) today announced that it has priced a public offering of up to 10,500,000 Units at a price per Unit of $1.00, for aggregate gross proceeds of up to $10,500,000, pursuant to its previously filed Registration Statement on Form S-1 (Reg. No. 333-178165). Each Unit consists of one share of common stock and one warrant to purchase one half share of common stock, exercisable at a price of $1.15 per share. The warrants may be exercised at any time after six months from the date of the closing and will expire after five years. The offering is expected to close on or about February 13, 2012, subject to customary closing conditions.
NeuroMetrix intends to use the net proceeds from this offering for general corporate purposes, including continuing commercialization efforts for NC-stat® DPNCheck™, its point of care nerve conduction test for evaluating systemic neuropathies such as diabetic peripheral neuropathy (DPN), developing SENSUS, its pain therapy device for use in managing painful diabetic neuropathy, and other product candidates.
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NeuroMetrix intends to use the net proceeds from this offering for general corporate purposes, including continuing commercialization efforts for NC-stat® DPNCheck™, its point of care nerve conduction test for evaluating systemic neuropathies such as diabetic peripheral neuropathy (DPN), developing SENSUS, its pain therapy device for use in managing painful diabetic neuropathy, and other product candidates.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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