Motus GI Announces Closing of Initial Public Offering

Motus GI (NASDAQ: MOTS) a medical technology company dedicated to improving endoscopy outcomes and experiences, announced today the closing of its initial public offering of 3,500,000 shares of its common stock at a public offering price of $5.00 per share, with gross proceeds of $17.5 million. Additionally, Motus has granted the underwriters a 30-day option to purchase an additional 525,000 shares of its common stock at the initial public offering price, less the underwriting discount and commissions, to cover over-allotments.

As quoted in the press release:

The net proceeds from the offering will be used towards commercialization activities related to the Company’s Pure-Vu® System, research and development activities, including clinical and regulatory development and the continued development and enhancement of the Company’s Pure-Vu® System, and for working capital and other general corporate purposes.

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