Myomo, Cambridge, Massachusetts, announced it filed Form 1-A with the U.S. Securities and Exchange Commission (SEC) relating to the proposed initial public offering (IPO) of its common stock under the recently amended provisions of Regulation A pursuant to the Jumpstart Our Business Startups (JOBS) Act of 2012. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Myomo intends to apply for listing its common stock on the New York Stock Exchange under the ticker symbol MYO.
Myomo said it intends to use the proceeds from the IPO to fund its sales and marketing expansion, and for product development, repayment of debt, and working capital and other general corporate purposes.
Tripoint Global Equities, headquartered in New York, and its online BANQ® division are acting as lead managing selling agent and book runner for the offering, according to a press release.
The amendments to Regulation A, known as Regulation A+, were adopted by the SEC pursuant to Title IV of the JOBS Act and became effective in June 2015. Regulation A+ is designed to allow early stage growth companies to raise up to $50 million in a public offering through a process that provides streamlined and lower-cost access to the capital markets for the issuer and provides investors the opportunity to participate in an IPO for these potentially high growth companies.
