Myomo said today that it closed a $6.4 million round of financing.
The Cambridge, Mass.-based wearable medical robotics company said that it floated approximately four million shares of its common stock at $1.40 per share for gross proceeds of approximately $5.5 million.
The offering included a fully-exercised underwriter’s option for an additional 592,500 shares of common stock at the same price, bringing the total raised up to approximately $6.4 million, the company said.
Proceeds from the offering are slated to support working capital and other general corporate purposes, Myomo said in a press release.
Shares in Myomo are up approximately 1.6% so far today, at $1.29 as of 10:53 a.m. EST.
Last week, Myomo said that it named David Henry as its new CFO, taking over for current chief financial officer Ralph Goldwasser, who is retiring effective February 18.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.