CAMBRIDGE, Mass.–(BUSINESS WIRE)–Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable
medical robotics company that offers increased functionality for those
suffering from neurological disorders and upper limb paralysis, today
announced that it is proposing to offer and sell, subject to market
conditions, shares of its common stock in an underwritten public
offering. Myomo expects to grant the underwriter a 45-day option to
purchase up to an additional 15% of the shares of common stock offered
in the public offering to cover over-allotments, if any. All of the
shares of common stock are being offered by the Company. The offering is
subject to market and other conditions and there can be no assurance as
to whether or when the offering may be completed, or as to the actual
size or terms of the offering.
National Securities Corporation, a wholly owned subsidiary of National
Holdings Corporation (NASDAQ: NHLD), is acting as sole book-running
manager for the proposed offering.
Myomo intends to use the net proceeds from this offering for working
capital and general corporate purposes.
A shelf registration statement on Form S-3 relating to the shares of
common stock being offered was filed with the Securities and Exchange
Commission (the “SEC”) and is effective. The shares may be offered only
by means of a prospectus. A preliminary prospectus supplement describing
the terms of the offering will be filed with the SEC and will form a
part of the effective registration statement. Copies of the preliminary
prospectus supplement and the accompanying base prospectus relating to
this offering may be obtained, when available, from: National Securities
Corporation, Attention: Christopher Passarelli, 200 Vesey Street, 25th
Floor, New York, New York 10281, telephone: (212) 417-8164 or by email
; or on the SEC’s website at http://www.sec.gov.
This announcement shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there be any
offer or sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful.
Myomo, Inc. is a wearable medical robotics company that offers expanded
mobility for those suffering from neurological disorders and upper limb
paralysis. Myomo develops and markets the MyoPro product line. MyoPro 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. It is currently
the only marketed device that, sensing a patient’s own EMG signals
through non-invasive 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 are able to
return to work, live independently and reduce their cost of care. Myomo
is headquartered in Cambridge, Massachusetts, with sales and clinical
professionals across the U.S. For more information, please visit www.myomo.com.
All statements in this release that are not based on historical fact are
“forward-looking statements.” While management has based any
forward-looking statements included in this release on its current
expectations, the information on which such expectations were based may
change. Forward-looking statements involve inherent risks and
uncertainties which could cause actual results to differ materially from
those in the forward-looking statements, as a result of various factors
including those risks and uncertainties described in the Risk Factors
and in Management’s Discussion and Analysis of Financial Condition and
Results of Operations sections of our recently filed Registration
Statement on Form 10-K, which can be found on the SEC’s website at www.sec.gov.
We urge you to consider those risks and uncertainties in evaluating our
forward-looking statements. We caution readers not to place undue
reliance upon any such forward-looking statements, which speak only as
of the date made. Except as otherwise required by the federal securities
laws, we disclaim any obligation or undertaking to publicly release any
updates or revisions to any forward-looking statement contained herein
(or elsewhere) to reflect any change in our expectations with regard
thereto or any change in events, conditions or circumstances on which
any such statement is based.