NeuroOne Medical (NMTC) Prices 5.25M Share Offering at $1/sh

NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) (the “Company”), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, announced today the pricing of an underwritten registered public offering of 5,250,000 shares of its common stock at a price of $1.00 per share.

All of the shares of common stock to be sold in the offering will be sold by the Company. In addition, the Company has granted the underwriter a 30-day option to purchase up to an additional 787,500 shares of its common stock at the public offering price less the underwriting discount.

The gross proceeds to the Company from this offering, before deducting underwriting discounts and commissions and offering expenses, but excluding any exercise of the underwriter’s option to purchase additional shares, are expected to be approximately $5,250,000. The offering is scheduled to close on or about July 27, 2023, subject to customary closing conditions.

The Company intends to use the proceeds from this proposed offering to: (i) support the commercial launch of the EVO sEEG electrode with Zimmer Biomet, (ii) support the FDA submission for the OneRF ablation system and (iii) complete the design of a novel drug delivery electrode, among other general corporate purposes.

The Benchmark Company, LLC is acting as sole book-running manager for the offering. Kestrel Merchant Partners group at The Benchmark Company, LLC is responsible for sourcing and executing the offering.

The shares will be issued pursuant to a shelf registration statement on Form S-3 (File No. 333-256830) that was declared effective by the U.S. Securities and Exchange Commission (“SEC”), on June 14, 2021. A preliminary prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at www.sec.gov or by contacting The Benchmark Company, LLC, 150 East 58th St., 17th Floor, New York, NY 10155, by telephone at 212-312-6700 or by email at [email protected].

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.

You May Also Be Interested In

• Alphabet taps bond market with sweeping 10-part offering to fuel AI ambitions
• Innovex stockholders offer 5 million shares in public offering
• American Outdoor Brands adds investment advisor to its board