CAMBRIDGE, MA--(Marketwired - Nov 18, 2016) - Myomo, Inc., a commercial-stage medical robotics company whose products enable users to overcome upper extremity paralysis (www.myomo.com), announced today that it has confidentially submitted a Form 1-A with the Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its common stock under the recently amended provisions of Regulation A pursuant to the Jumpstart Our Business Startups (JOBS) Act of 2012. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Myomo intends to apply for listing its common stock on the NYSE MKT under the ticker symbol "MYO."
TriPoint Global Equities, LLC, along with its online division BANQ®, will act as the lead managing selling agent and book runner for the offering. Investors may register indications of interest at http://www.banq.co/causes/myomo.
Myomo intends to use the proceeds from the offering to fund its sales and marketing expansion, product development, repayment of debt and for working capital and other general corporate purposes.
Myomo specializes in myoelectric orthotics for people with neuromuscular disorders. Myomo developed the MyoPro® product line which is based on its patented myoelectric technology developed at the Massachusetts Institute of Technology (MIT). The orthosis, available on a physician's order, is a non-invasive, powered brace used for the purpose of supporting and moving a patient's weak or deformed arm and hand to re-enable functional activities. The company's products can help restore function in individuals with neuromuscular conditions such as stroke, peripheral nerve injury, spinal cord injury, ALS, and others.
The amendments to Regulation A, known as "Regulation A+," were adopted by the SEC pursuant to Title IV of the JOBS Act and became effective in June 2015. Regulation A+ is designed to allow early stage growth companies to raise up to $50 million in a public offering through a process that provides streamlined and lower-cost access to the capital markets for the issuer and provides investors the opportunity to participate in an IPO for these potentially high growth companies.
Myomo, Inc. is currently a privately held company headquartered in Cambridge, MA. For more information please visit www.myomo.com.
This press release may include ''forward-looking statements.'' To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the offering statement we have filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Energy Hunter does not undertake any duty to update any forward-looking statements except as may be required by law.
The offering will be made only by means of an offering circular. An offering statement on Form 1-A relating to these securities has been filed confidentially with the Securities and Exchange Commission but has not yet become qualified.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or 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 jurisdiction.
No money or other consideration is being solicited at this time with respect to such an offering, and if sent in response to these materials for such an offering, it will not be accepted. No securities may be sold, and no offer to buy securities can be accepted and no part of the purchase price can be received for an offering under Regulation A+ until an offering statement is qualified by the U. S. Securities and Exchange Commission, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. An indication of interest made by a prospective investor in a Regulation A+ offering is non-binding and involves no obligation or commitment of any kind.