Myomo (NYSE: MYO), a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper limb paralysis, has entered into agreements regarding existing 2020 investor warrants. The agreements are with certain shareholders of its investor warrants exercisable for 1,015,798 shares of its common stock. According to the announcement, these shareholders agreed to exercise their warrants for cash; the warrants were offered at an exercise price of $5 per share. The company anticipates receiving $5.1 million gross proceeds from the exercise of the existing warrants. Roth Capital Partners acted as the sole book-running manager and financial advisor for Myomo.
For more information, visit the company’s website at www.Myomo.com.
About Myomo Inc.
Myomo is a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper limb paralysis. Myomo develops and markets the MyoPro product line, which is a powered upper-limb orthosis designed to support the arm and restore function to the weakened or paralyzed arms of patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury, ALS or other neuromuscular disease or injury. The MyoPro product is currently the only marketed device that, sensing a patient’s own EMG signals through noninvasive sensors on the arm, can restore an individual’s ability to perform activities of daily living, including feeding themselves, carrying objects and doing household tasks. Many individuals are able to return to work, live independently and reduce their cost of care. Myomo is headquartered in Boston, Massachusetts, with sales and clinical professionals across the United States and representatives internationally.
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