Myomo Inc. has announced a Regulation A+ initial public offering that allows investors to invest in the company, according to a press release.
According to the release, Myomo’s non-invasive technology, licensed from the Massachusetts Institute of Technology, offers individuals with neurological disorders and upper limb paralysis the ability to regain mobility in partially paralyzed or weakened arms and hands.
“We are excited to share our vision of restoring upper limb mobility to millions of Americans and others worldwide with a broad set of individual investors that have the opportunity to invest in our company, alongside accredited investors and institutions, to acquire shares at the initial offering price,” Paul R. Gudonis, Myomo chief executive officer, said in the release. “While a traditional public offering is generally reserved for large institutions and the Wall Street elite to invest at this stage, we are taking advantage of new [Securities and Exchange Commission] SEC regulations to level the playing field for all investors to participate concurrently in our [initial public offering] IPO.”
Myomo seeks to become the first company to launch a Regulation A+ IPO with listing on the New York Stock Exchange, the release noted. TriPoint Global Equities will act as the lead managing selling agent and bookrunner for the offering.
According to the release, Myomo intends to use the proceeds to fund sales, marketing, product development, repayment of debt and for working capital and corporate purposes.
Disclosure: Gudonis reports no relevant financial disclosures.