NeuroMetrix, Inc. NURO (the "Company" or "NURO"), a medical
device company focused on the diagnosis and treatment of the
neurological complications of diabetes, today announced that it entered
into a definitive securities purchase agreement with a single
institutional investor providing for the issuance of $5,000,000 of
shares of Series A-1 and Series A-2 convertible preferred stock
(convertible into a combined total of 2,386,635 shares of common stock)
and five year warrants to purchase up to 2,386,635 shares of common
stock at an exercise price of $2.00 per share. Subject to certain
ownership limitations, the Series A-1 and Series A-2 convertible
preferred stock is convertible at any time into shares of common stock
at an initial conversion price of $2.095 per share
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