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EDEN PRAIRIE, Minn. - NeuroOne Medical Technologies Corporation (NASDAQ:NMTC), a medical technology company specializing in neurological disorders with a market capitalization of $27 million, has announced the pricing of its public stock offering at $0.50 per share. The offering price represents a significant discount to the current trading price of $0.86, which sits between the company’s 52-week range of $0.55 to $1.39. The offering includes 16 million shares of common stock with Ladenburg Thalmann & Co. Inc. serving as the sole book-running manager.
The company expects to raise $8 million in gross proceeds before underwriting discounts and commissions, as well as offering expenses, and excluding any potential additional sales under the underwriter’s 45-day option to purchase up to 2.4 million extra shares. This capital raise is intended for general working capital purposes. According to InvestingPro data, the company has been rapidly burning through cash, though it maintains a healthy current ratio of 3.64x, indicating strong short-term liquidity. Analysts project sales growth for the current year, with revenue expected to nearly double.
The offering is anticipated to close around April 7, 2025, subject to standard closing conditions. The shares are being offered under a shelf registration statement, which was declared effective by the U.S. Securities and Exchange Commission on August 16, 2024. For investors interested in deeper analysis, InvestingPro offers comprehensive research reports covering over 1,400 US stocks, including NMTC, with detailed financial health metrics and expert insights to make informed investment decisions.
A preliminary prospectus supplement and accompanying prospectus have been filed with the SEC and are available on its website. A final prospectus supplement will also be filed with the SEC. Interested parties may obtain these documents through Ladenburg Thalmann & Co. Inc.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, and there will be no sale of these securities in any jurisdiction where such an offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that jurisdiction.
The information in this article is based on a press release statement from NeuroOne Medical Technologies Corporation.
In other recent news, NeuroOne Medical Technologies Corporation reported significant financial growth in the first quarter of fiscal year 2025, with total revenue reaching $6.3 million, marking a 235% increase from the same period last year. The company achieved a net income of $1.8 million, reversing a previous net loss, and reported record product sales of $3.3 million. Additionally, NeuroOne has expedited the submission timeline for its 510(k) application with the U.S. Food and Drug Administration for its trigeminal nerve ablation system, now expected in May 2025. This move could potentially allow the company to generate revenues from the ablation system in late 2025. NeuroOne also announced a public offering of its common stock, with Ladenburg Thalmann & Co. Inc. serving as the sole book-running manager. These developments come amid the company’s strategic focus on expanding its product offerings and market presence. The recent earnings call highlighted the company’s robust financial performance and growth prospects, with expectations of product revenue to range between $8 million and $10 million for the full fiscal year 2025.
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