Myomo Intends To Offer Shares Of Its Common Stock In "Reasonable Best Efforts" Public Offering; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Myomo plans to offer shares of its common stock in a 'reasonable best efforts' public offering. The company intends to use the net proceeds for general corporate purposes, including working capital, capital expenditures, research and development expenses, and sales and marketing activities.
August 24, 2023 | 8:17 pm
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Myomo's public offering of its common stock could potentially dilute existing shares, which may negatively impact the stock price in the short term. However, the funds raised will be used for corporate purposes, which could strengthen the company's financial position in the long term.
Public offerings often lead to share dilution, which can negatively impact the stock price in the short term. However, the funds raised from the offering will be used for corporate purposes, which could potentially strengthen the company's financial position in the long term.
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