EnteroMedics Announces Proposed Underwritten Public Offering
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EnteroMedics (ETRM) Prices $20M Public Offering of Preferred Stock, Warrants
August 11, 2017 8:21 AM EDTEnteroMedics Inc. (NASDAQ: ETRM), a developer of minimally invasive medical devices to treat obesity, metabolic diseases and other gastrointestinal disorders, today announced the pricing of an underwritten public offering of units for gross proceeds of $20 million, prior to deducting underwriting discounts and commissions and offering expenses payable by EnteroMedics.
The offering consists of units, priced at a public offering price of $1,000 per unit, comprised of one share of series B convertible preferred stock, which is convertible into 435 shares of common stock at a conversion price of $2.30 per share (the "preferred... More
