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Israel's Motus GI sets IPO terms

Israel's Motus GI Holdings Inc. plans to raise net proceeds of about $22.6 million through its IPO.

The medical technology company said it will sell 4,250,000 common shares, priced between $5 and $7 each. The shares are expected to be listed on the Nasdaq Capital Market under the symbol MOTS.

Additionally, Motus GI granted underwriters a 30-day option to buy up to an additional 637,500 shares at the offering price. Net proceeds from the IPO could reach up to $26.4 million if the underwriters fully exercise their overallotment option.

The company plans to use net proceeds to develop and commercialize its Pure-Vu colonoscopy device, as well as for working capital and general corporate purposes.

Piper Jaffray & Co. and Oppenheimer & Co. Inc. are underwriting the IPO.