Myomo Announces $6M Registered Direct Offering Of 1,578,948 Shares Of Common Stock At $3.80/Share
Portfolio Pulse from Benzinga Newsdesk
Myomo, Inc. has announced a registered direct offering of 1,578,948 shares of its common stock, priced at $3.80 per share, aiming to raise $6 million. This capital raise could dilute current shareholders but also provides the company with additional funds for operations, development, and potential expansion.
January 17, 2024 | 1:06 pm
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Myomo's direct offering of over 1.5 million shares at $3.80 each may dilute existing shares but provides capital for growth.
The announcement of a new stock offering typically leads to concerns about share dilution, which can cause a short-term negative impact on the stock price. However, the additional capital does provide the company with more resources for its operations and potential growth, which could be positive in the long term.
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