Myomo Announces Closing of Public Offering - Feb. 19, 2020

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”) a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper limb paralysis, today announced the closing of its previously announced underwritten public offering of 2,143,000 shares of common stock or common stock equivalents (which included pre-funded warrants to purchase shares of common stock in lieu of shares of common stock) and 2,143,000 investor warrants to purchase one share of common stock at a combined offering price of $7.00. Gross proceeds from the offering (before underwriting commissions and expenses) were $15.0 million.

The investor warrants have an exercise price of $7.50 per share of underlying common stock, are immediately exercisable and expire five years from the date of issuance. All pre-funded warrants purchased by investors have subsequently been exercised for shares of common stock.

Roth Capital Partners acted as the sole book-running manager for the offering. Dougherty & Co. LLC acted as co-manager.

The offering was made under an effective registration statement on Form S-1 (File No. 333-235538), which was declared effective on February 10, 2020, and the related registration statement on Form S-1 (File No. 333-236360) filed under Rule 462(b) of the Securities Act of 1933, as amended, which was effective immediately upon filing. The offering was made only by means of a prospectus forming part of an effective registration statement. The final prospectus relating to the offering was filed with the SEC and may be obtained on the SEC’s website at http://www.sec.gov or by contacting the offices of Roth Capital Partners LLC, 888 San Clemente, Newport Beach, CA. 92660, Attention: Prospectus Department, by telephone at 800-678-9147 or Dougherty & Co. LLC, Attention Corporate Finance, 90 South 7^th St., Suite 4300, Minneapolis, MN. 55402, by telephone at 612-376-4000 or by emailing mlang@doughertymarkets.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Myomo

Myomo, Inc. is a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper limb paralysis. Myomo develops and markets the MyoPro product line.

Safe Harbor

All statements in this release that are not based on historical fact are “forward-looking statements.” While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our recently filed Registration Statement on Form 10-K, which can be found on the SEC’s website at www.sec.gov. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

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