NeuroOne Medical sinks on deep-discounted stock offering

Neuroone Medical Technologies

25/07/2023 13:25

** NeuroOne Medical Technologies Corp's  NMTC.O  shares down
~36% to $1.02 premarket after overnight follow-on prices
    ** Co announces 5.25 mln shares at $1, ~37% discount to last
sale
    ** Co plans to use net offering proceeds to support
commercial launch of its brain monitoring system with Zimmer
Biomet  ZBH.N , support FDA submission for its OneRF ablation
system
    ** Co has ~17.9 mln shares outstanding as of Jun 30, per
most recent SEC filing, and ~14.7 mln shares of public float,
per Refinitiv data
    ** Through Mon close, stock up 32.5% YTD including ~51% gain
over the past month
    ** Benchmark Co acting as sole bookrunner for the offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))