First Reg A+ IPO on Major U.S. Exchange
Last Friday, Myomo, Inc., a commercial stage medical robotics company, announced the completion of its initial public offering (IPO) under SEC Regulation A+, raising $5.0 Million through the sale of 665,498 shares of its common stock at a price to the public of $7.50 per share. Myomo also closed a simultaneous private sale of investment units for total proceeds of $2.9 Million. The combined capital raised is $7.9 Million.
Myomo’s common stock is expected to begin trading on the New York Stock Exchange (“NYSE”) MKT on June 12, 2017, under the symbol “MYO” and is the first Reg A+ IPO to list its securities on a national exchange.
TriPoint Global Equities, LLC, working with its online division BANQ® (www.banq.co), was the lead managing selling agent and bookrunner for the offering. CrowdfundX was the digital marketing agency of record.
“I am very pleased that we have completed a successful IPO and listing on the NYSE MKT, a first under Jumpstart Our Business Startups (JOBS) Act Regulation A+. The proceeds raised provide Myomo with the resources to continue to invest in the MyoPro® product line, as well as increase our sales and marketing efforts to grow our business domestically and internationally,” said Paul R. Gudonis, Chairman and CEO of Myomo.
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