NeuroOne sinks on stock offering launch

Neuroone Medical Technologies

24/07/2023 21:34

** NeuroOne Medical Technologies Corp's  NMTC.O  shares sink
more than 25% in extended trading as co looks to raise equity
    ** Co launches stock offering to support commercial launch
of its brain monitoring system with Zimmer Biomet  ZBH.N ,
support FDA submission for its OneRF ablation system
    ** Deal size not disclosed
    ** NMTC on Mon closed down 9.1% at $1.59. Stock has risen
~50% over the past month
    ** Co has ~17.6 mln shares outstanding and ~14.7 mln shares
of public float, per Refinitiv data
    ** Benchmark Co acting as sole bookrunner for proposed
equity 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))