Nemaura Medical Announces Pricing of Up to $2.5 Million Public Offering

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.

Click here to read the full press release.