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Myomo raises another $1.5M in stock offering

Myomo Inc. said it raised an additional $1.5 million after the underwriters of its previously announced offering fully exercised their overallotment option.

The company will issue an additional 626,250 shares at $2.40 apiece, complete with warrants to buy up to another 626,250 stock.

All in all, the company sold 4,801,250 shares, inclusive of the overallotment option, plus warrants to buy up to an additional 4,801,250 stock, for gross proceeds of $11.5 million.

Myomo will use the total net proceeds for debt repayment and working capital and other general corporate purposes.

Roth Capital Partners acted as the sole manager for the offering.