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NeurAxis, Inc. (NYSE American: NRXS) ("NeurAxis" or the "Company"), a medical technology company commercializing neuromodulation therapies that address chronic and debilitating conditions in children and adults, today announced the pricing of its underwritten initial public offering of 1,098,667 shares of common stock at an initial public offering price of $6.00 per share. The gross proceeds from the offering, before underwriting discounts and commissions and estimated offering expenses payable by the Company, are expected to be approximately $6,592,000. In addition, the Company has granted the underwriters a 45-day option to purchase up to 164,800 additional shares of common stock at the initial public offering price, less the underwriting discount.
The shares are expected to begin trading on the NYSE American on August 9, 2023 under the ticker symbol "NRXS". The offering is expected to close on August 11, 2023 subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds of the initial public offering for sales and marketing activities, research and development, certain payments to executive officers pursuant to their respective employment agreements, and general corporate purposes.
Posted In: NRXS
