NetworkNewsBreaks – EnteroMedics, Inc. (NASDAQ: ETRM) Prices $20M Public Offering

Company: EnteroMedics, Inc. (ETRM)
Category: News

EnteroMedics (NASDAQ:ETRM), a developer of minimally invasive medical devices for the treatment of obesity, metabolic diseases and other gastrointestinal disorders, this morning priced its underwritten public offering of 20,000 units at a price to the public of $1,000 per unit. The gross proceeds to EnteroMedics is expected to be $20 million.

A total of 20,000 shares of preferred stock convertible into 8.7 million shares of common stock, and warrants to purchase 8.7 million shares of common stock will be issued in the offering. The closing of the offering is expected to take place on or about August 16, 2017.

To view the full press release, visit http://nnw.fm/c3SFd

About EnteroMedics Inc.

EnteroMedics is a medical device company focused on the development and commercialization of technology to treat obesity and metabolic diseases. vBloc® Neurometabolic Therapy, delivered by an FDA-approved pacemaker-like device called the vBloc® System, is designed to help patients feel full and eat less by intermittently blocking hunger signals on the vagus nerve. EnteroMedics recently acquired the Gastric Vest System™ through its acquisition of BarioSurg, Inc. The Gastric Vest is an investigational, minimally invasive, laparoscopically implanted medical device being studied for weight loss in morbidly obese patients. The device wraps around the stomach, emulating the effect of conventional weight-loss surgery, and is intended to enable gastric volume reduction without permanently changing patient anatomy.

More from NetworkNewsBreaks

NetworkNewsBreaks – Invictus MD Strategies Corp. (OTC: IVITF) (TSX-V: IMH) Provides Update on Harvesting 

NetworkNewsBreaks – Arcadia Biosciences, Inc. (NASDAQ: RKDA) and Bioceres’ Joint Venture Receives Completed Safety Review by FDA

NetworkNewsBreaks – Data and Safety Monitoring Board Recommends Completion of ARCA biopharma, Inc.’s (NASDAQ: ABIO) GENETIC-AF Trial

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

For more information please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

Contact us: 212.418.1217