Myomo, Inc. a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, announced that it intends to offer and sell shares of its common stock (or common stock equivalents in lieu thereof) in a “reasonable best efforts” public offering. All of the securities to be sold in the offering are to be offered by Myomo. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The Company intends to use the net proceeds from the offering for general corporate purposes, which may include working capital and capital expenditures, research and development expenses and sales and marketing activities. If the Centers for Medicare and Medicaid Services finalizes the Company’s classification as a brace and publishes a fee in conjunction with the next public meeting, which is expected to be held before the end of the year, the proceeds will also be used to fund additions to our headcount in order to service a greater number of patients and to procure additional inventory to ramp our operations.
A.G.P./Alliance Global Partners is acting as sole placement agent for the offering on a reasonable best-efforts basis.
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-256159) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering will be made only by means of a prospectus supplement and accompanying prospectus. The preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the preliminary prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that Myomo has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about Myomo and such offering.
SOURCE: Businesswire