The Conversation (0)
Nemaura Medical Announces Pricing of Up to $2.5 Million Public Offering
Dec. 18, 2018 09:43AM PST
Medical Device InvestingNemaura Medical (NASDAQ:NMRD), a medical technology company developing sugarBEAT as a non-invasive affordable and flexible Continuous Glucose Monitor (CGM) for use by people with diabetes and pre-diabetics, today announced the pricing of a “best efforts” public offering of Company’s shares of common stock and warrants with expected total gross proceeds of up to $2.5 million. …
Nemaura Medical (NASDAQ:NMRD), a medical technology company developing sugarBEAT as a non-invasive affordable and flexible Continuous Glucose Monitor (CGM) for use by people with diabetes and pre-diabetics, today announced the pricing of a “best efforts” public offering of Company’s shares of common stock and warrants with expected total gross proceeds of up to $2.5 million.
As quoted in the press release:
The offering is expected to close on or about December 20, 2018, subject to satisfaction of customary closing conditions.
The offering was priced at $1.04 per share of common stock, with each share coupled with one five-year warrant to purchase one share of common stock, at an exercise price of $1.04 per share.
Dawson James Securities, Inc. acted as the sole placement agent in connection with the offering.
Nemaura plans to use the net proceeds from the offering for a U.S. FDA clinical trial, product launch in Europe and the development of a second generation of sugarBEAT®, as well as for general corporate and working capital purposes.