Medical Robotics Firm Myomo Explores Going Public
11/21/2016 7:09:26 AM
Myomo Inc. Announces Proposed Regulation A+ Initial Public Offering and Plan to List on the NYSE MKT
CAMBRIDGE, MA--(Marketwired - Nov 18, 2016) - Myomo, Inc., a commercial-stage medical robotics company whose products enable users to overcome upper extremity paralysis (www.myomo.com), announced today that it has confidentially submitted a Form 1-A with the Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its common stock under the recently amended provisions of Regulation A pursuant to the Jumpstart Our Business Startups (JOBS) Act of 2012. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Myomo intends to apply for listing its common stock on the NYSE MKT under the ticker symbol "MYO."
TriPoint Global Equities, LLC, along with its online division BANQ®, will act as the lead managing selling agent and book runner for the offering. Investors may register indications of interest at http://www.banq.co/causes/myomo.
Myomo intends to use the proceeds from the offering to fund its sales and marketing expansion, product development, repayment of debt and for working capital and other general corporate purposes.
Myomo specializes in myoelectric orthotics for people with neuromuscular disorders. Myomo developed the MyoPro® product line which is based on its patented myoelectric technology developed at the Massachusetts Institute of Technology (MIT). The orthosis, available on a physician's order, is a non-invasive, powered brace used for the purpose of supporting and moving a patient's weak or deformed arm and hand to re-enable functional activities. The company's products can help restore function in individuals with neuromuscular conditions such as stroke, peripheral nerve injury, spinal cord injury, ALS, and others.
The amendments to Regulation A, known as "Regulation A+," were adopted by the SEC pursuant to Title IV of the JOBS Act and became effective in June 2015. Regulation A+ is designed to allow early stage growth companies to raise up to $50 million in a public offering through a process that provides streamlined and lower-cost access to the capital markets for the issuer and provides investors the opportunity to participate in an IPO for these potentially high growth companies.
Myomo, Inc. is currently a privately held company headquartered in Cambridge, MA. For more information please visit www.myomo.com.
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