Myomo Completes IPO
Myomo, Cambridge, Massachusetts, announced the completion of its initial public offering (IPO) under SEC Regulation A+, raising $5 million through the sale of 665,498 shares of its common stock at a price to the public of $7.50 per share. The IPO was launched in March. The company also closed on a simultaneous private sale of investment units composed of restricted securities to accredited investors, most of whom were early investors, for total proceeds of $2.9 million.
Myomo's common stock is expected to begin trading on the New York Stock Exchange (NYSE) MKT on June 12 under the symbol MYO. The company is the first Jumpstart Our Business Startups (JOBS) Act Regulation A+ issuer to list its securities on a national exchange; the final rules of Regulation A, often referred to as Regulation A+, facilitates smaller companies' access to capital.