Myomo Announces Closing of $4.4 Million Public Offering

Myomo, Inc., 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 “reasonable best efforts” public offering of 7,333,334 shares of common stock (or common stock equivalents in lieu thereof) at a public offering price of $0.60 per share for aggregate gross proceeds of approximately $4.4 million, before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include working capital and capital expenditures, research and development expenses and sales and marketing activities. Read more >>