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NeuroMetrix Announces $13.8M at the Market Private Placement of Preferred Stock, Warrants

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NeuroMetrix, Inc. (NASDAQ: NURO) announced today that it entered into a
definitive securities purchase agreement with a healthcare dedicated
institutional investor in connection with a private placement of 13,800
shares of Series C convertible preferred stock at a price of $1,000 per
share, and two series of warrants to purchase an aggregate of
approximately 10.8 million shares of common stock at an exercise price
of $2.30 per share. The Company expects to receive gross proceeds from
the offering of $13.8 million. It is expected that approximately $6.3
million of the proceeds of the offering will be used to redeem 63,000
shares of Series B convertible preferred stock held by the healthcare
dedicated institutional investor and the balance of the proceeds will be

See full press release

Posted-In: News Offerings Press Releases

 

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