NeurAxis Announces Pricing Of $6.592M Initial Public Offering Of 1,098,667 Shares Of Common Stock At An Price Of $6/Share
Portfolio Pulse from Happy Mohamed
NeurAxis, Inc. (NYSE American: NRXS) has announced the pricing of its initial public offering (IPO) of 1,098,667 shares of common stock at $6.00 per share, expecting to raise approximately $6.592M. The company has also granted underwriters a 45-day option to purchase up to 164,800 additional shares. The shares are expected to begin trading on August 9, 2023, under the ticker symbol 'NRXS'. The proceeds will be used for sales and marketing activities, R&D, payments to executive officers, and general corporate purposes.
August 09, 2023 | 2:02 pm
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NeurAxis (NRXS) is going public with its shares priced at $6.00 each, aiming to raise around $6.592M. The funds will be used for various corporate purposes including sales, marketing, and R&D.
The IPO is a significant event for NeurAxis as it provides the company with capital to fund its operations and growth strategies. The pricing of the IPO at $6.00 per share indicates the company's valuation at this stage. The successful completion of the IPO could potentially boost the company's stock in the short term, hence the score of 1.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100