EnteroMedics Reports Exercise of 1,653,635 Common Stock Warrants
EnteroMedics Inc. (NASDAQ: ETRM) today announced that it has received $3.6 million from the exercise of 1,653,635 warrants through 2012 to date. The warrants that were exercised were issued by the Company in its December 2010 and September 2011 public offerings and had exercise prices of $2.19 per share and $1.90 per share, respectively. The Company intends to use the proceeds from the warrant exercises for general corporate purposes. As of July 11, 2012, 17,067,146 warrants remain outstanding and exercisable from the aforementioned offerings with exercise prices ranging from $2.19 to $1.90 per share.
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