NeuroOne® Announces $2.65 Million Equity Financing And $3.0 Million Credit Facility
NeuroOne Medical Technologies (Nasdaq: NMTC) has secured $5.65 million in financing through a combination of a $2.65 million private placement and a $3 million credit facility. The private placement involved issuing 2,944,446 shares of common stock and warrants to purchase 2,208,338 additional shares at $0.90 per unit. The company also announced signing a non-binding term sheet with an undisclosed global medical technology company for the distribution of its OneRF™ Ablation System.
The funds will be used for OneRF commercialization activities, product development for a new ablation indication, and to support the company during the diligence process with a potential strategic partner. CEO Dave Rosa expressed confidence in the company's position to operate and move forward with the potential partnership, expected to close by the end of the third calendar quarter.
NeuroOne Medical Technologies (Nasdaq: NMTC) ha ottenuto 5,65 milioni di dollari in finanziamenti attraverso una combinazione di un collocamento privato di 2,65 milioni di dollari e una linea di credito di 3 milioni di dollari. Il collocamento privato ha comportato l'emissione di 2.944.446 azioni di azioni ordinarie e warrant per l'acquisto di 2.208.338 azioni aggiuntive a 0,90 dollari per unità. L'azienda ha anche annunciato di aver firmato un foglio condizioni non vincolante con una compagnia globale di tecnologia medica non divulgata per la distribuzione del suo OneRF™ Ablation System.
I fondi saranno utilizzati per le attività di commercializzazione di OneRF, lo sviluppo del prodotto per una nuova indicazione di ablazione e per supportare l'azienda durante il processo di due diligence con un potenziale partner strategico. Il CEO Dave Rosa ha espresso fiducia nella posizione dell'azienda di operare e andare avanti con la potenziale partnership, che dovrebbe chiudere entro la fine del terzo trimestre dell'anno.
NeuroOne Medical Technologies (Nasdaq: NMTC) ha conseguido 5,65 millones de dólares en financiamiento a través de una combinación de un colocación privada de 2,65 millones de dólares y una línea de crédito de 3 millones de dólares. La colocación privada involucró la emisión de 2.944.446 acciones de acciones comunes y warrants para comprar 2.208.338 acciones adicionales a 0,90 dólares por unidad. La compañía también anunció la firma de un memorando de entendimiento no vinculante con una empresa global de tecnología médica no divulgada para la distribución de su OneRF™ Ablation System.
Los fondos se utilizarán para actividades de comercialización de OneRF, desarrollo de producto para una nueva indicación de ablación y para apoyar a la empresa durante el proceso de debida diligencia con un posible socio estratégico. El CEO Dave Rosa expresó confianza en la posición de la empresa para operar y avanzar con la posible asociación, que se espera cerrar a finales del tercer trimestre del año.
NeuroOne Medical Technologies (Nasdaq: NMTC)는 565만 달러의 자금을 확보했습니다. 이는 265만 달러의 사모펀드와 300만 달러의 신용 시설을 결합한 결과입니다. 사모펀드에서 2,944,446주의 보통주와 2,208,338주의 추가 주식을 주당 0.90달러로 구매할 수 있는 워런트를 발행했습니다. 회사는 또한 OneRF™ Ablation System의 배급을 위해 비공식적인 조건 시트를 공개되지 않은 글로벌 의료 기술 회사와 체결했다는 소식을 전했습니다.
이 자금은 OneRF 상용화 활동, 새로운 절제 지시를 위한 제품 개발 및 잠재적 전략적 파트너와의 실사 과정에서 회사를 지원하는 데 사용될 것입니다. CEO 데이브 로사는 파트너십이 예정대로 진행될 것이라는 기대감을 밝혔다. 이는 올해 3분기 말까지 종료될 것으로 예상됩니다.
NeuroOne Medical Technologies (Nasdaq: NMTC) a sécurisé 5,65 millions de dollars de financement grâce à une combinaison d'un placement privé de 2,65 millions de dollars et d'un emprunt de 3 millions de dollars. Le placement privé a impliqué l'émission de 2.944.446 actions ordinaires et de bons de souscription pour acheter 2.208.338 actions supplémentaires à 0,90 dollar l'unité. L'entreprise a également annoncé qu'elle avait signé une lettre d'intention non contraignante avec une entreprise mondiale de technologie médicale non divulguée pour la distribution de son OneRF™ Ablation System.
Les fonds seront utilisés pour les activités de commercialisation de OneRF, le développement de produits pour une nouvelle indication d'ablation et pour soutenir l'entreprise durant le processus de diligence raisonnable avec un potentiel partenaire stratégique. Le PDG Dave Rosa a exprimé sa confiance dans la position de l'entreprise pour fonctionner et avancer avec le potentiel partenariat, qui devrait se conclure d'ici la fin du troisième trimestre civil.
NeuroOne Medical Technologies (Nasdaq: NMTC) hat 5,65 Millionen US-Dollar an Finanzierung durch eine Kombination aus einer 2,65 Millionen US-Dollar großen Privatplatzierung und einer 3 Millionen US-Dollar großen Kreditfazilität gesichert. Die Privatplatzierung beinhaltete die Emission von 2.944.446 Aktien des Stammkapitals sowie Warrants zum Kauf von 2.208.338 zusätzlichen Aktien zu 0,90 US-Dollar pro Einheit. Das Unternehmen gab außerdem bekannt, dass es ein unverbindliches Term Sheet mit einem unveröffentlichten globalen Medizintechnikunternehmen für den Vertrieb seines OneRF™ Ablation Systems unterzeichnet hat.
Die Mittel werden für Kommerzialisierungsaktivitäten von OneRF, die Produktentwicklung für eine neue Ablationsindikation und zur Unterstützung des Unternehmens während des Due-Diligence-Prozesses mit einem potenziellen strategischen Partner verwendet. CEO Dave Rosa äußerte Vertrauen in die Position des Unternehmens, um zu operieren und mit der potenziellen Partnerschaft voranzukommen, die bis Ende des dritten Kalenderquartals abgeschlossen sein soll.
- Secured $5.65 million in financing through private placement and credit facility
- Signed non-binding term sheet for potential distribution partnership of OneRF™ Ablation System
- Minimal dilution to shareholders with $3 million from credit facility
- Funds to be used for OneRF commercialization and new ablation indication development
- Dilution of existing shareholders through issuance of new shares and warrants
- Partnership agreement is non-binding and subject to due diligence and closing conditions
Insights
NeuroOne's recent
NeuroOne's OneRF™ Ablation System represents a significant advancement in neurological disorder treatment. The company's focus on expanding its commercialization and pursuing a distribution partnership demonstrates confidence in the technology's market potential. The additional funding will likely accelerate the launch and product development for a new ablation indication, potentially broadening the system's applications. This could position NeuroOne as a stronger player in the neuromodulation market. However, investors should be aware that medical device commercialization often faces regulatory hurdles and market adoption challenges. The potential partnership with a global medical technology company could provide important distribution channels and industry validation, but the non-binding nature of the term sheet means this opportunity is not yet secured.
NeuroOne's financing strategy and potential partnership signal a pivotal moment for the company's market position. The medical technology sector, particularly in neurological disorders, is experiencing rapid growth and NeuroOne's moves suggest they're positioning to capitalize on this trend. The involvement of current institutional investors in the private placement indicates continued confidence in the company's trajectory. The potential distribution arrangement with a global partner could significantly expand NeuroOne's market reach, important for a smaller player in this competitive field. However, the medical device market is highly regulated and competitive, with established players holding significant market share. NeuroOne's success will depend on its ability to effectively commercialize OneRF and secure strategic partnerships, making the outcome of the current diligence process critical for investor sentiment.
Proceeds to be used for OneRF commercialization activities and to bridge the Company to the close of a potential distribution arrangement with a strategic partner currently in the diligence process
EDEN PRAIRIE, Minn., Aug. 05, 2024 (GLOBE NEWSWIRE) -- NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) (“NeuroOne” or the “Company”), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announced the closing of a
“Today’s financings,
The private placement consisted of an aggregate of 2,944,446 shares of the Company’s common stock and warrants to purchase an aggregate of 2,208,338 shares of common stock, at a purchase price of
In addition, the Company also secured a
The Company intends to use the proceeds from the offering for funding operations, working capital, and general corporate purposes, including to expand commercialization of the OneRF limited launch, completion of product development intended for a new ablation indication, and completion of the diligence process with a potential OneRF strategic partner.
The securities issued and sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (“SEC”) or an applicable exemption from such registration requirements. NeuroOne has agreed to file a registration statement with the SEC covering the resale of the shares of common stock and shares of common stock underlying the warrants to be issued in the private placement.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About NeuroOne
NeuroOne Medical Technologies Corporation is a developmental stage company committed to providing minimally invasive and hi-definition solutions for EEG recording, brain stimulation and ablation solutions for patients suffering from epilepsy, Parkinson's disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other related neurological disorders that may improve patient outcomes and reduce procedural costs. The Company may also pursue applications for other areas such as depression, mood disorders, pain, incontinence, high blood pressure, and artificial intelligence. For more information, visit www.nmtc1.com.
Forward Looking Statements
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Except for statements of historical fact, any information contained in this press release may be a forward–looking statement that reflects NeuroOne’s current views about future events and is subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In some cases, you can identify forward–looking statements by the words or phrases "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "objective," "anticipate," "believe," "estimate," "predict," "project," "potential," "target," "seek," "contemplate," "continue, "focused on," "committed to" and "ongoing," or the negative of these terms, or other comparable terminology intended to identify statements about the future. Forward–looking statements may include statements regarding the ability of the company to close a second distribution agreement with a strategic partner, the potential for the partnership to close prior to the end of the third calendar quarter, the business strategy, market size, potential growth opportunities, and future operations. Although NeuroOne believes that we have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. Our actual future results may be materially different from what we expect due to factors largely outside our control, including risks that our partnerships may not facilitate the commercialization or market acceptance of our technology; whether due to supply chain disruptions or labor shortages; risks that our technology will not perform as expected based on results of our pre-clinical and clinical trials; risks related to uncertainties associated with the Company's capital requirements to achieve its business objectives and ability to raise additional funds; the risk that we may not be able to secure or retain coverage or adequate reimbursement for our technology; uncertainties inherent in the development process of our technology; risks related to changes in regulatory requirements or decisions of regulatory authorities; that we may not have accurately estimated the size and growth potential of the markets for our technology; risks related to our ability to protect our intellectual property rights; and other risks, uncertainties and assumptions, including those described under the heading "Risk Factors" in our filings with the Securities and Exchange Commission. These forward–looking statements speak only as of the date of this press release and NeuroOne undertakes no obligation to revise or update any forward–looking statements for any reason, even if new information becomes available in the future.
“Caution: Federal law restricts this device to sale by or on the order of a physician”
Contact:
800-631-4030
ir@nmtc1.com
FAQ
How much financing did NeuroOne (NMTC) secure in August 2024?
What is the purpose of NeuroOne's (NMTC) recent financing?
What potential partnership did NeuroOne (NMTC) announce in August 2024?
When does NeuroOne (NMTC) expect to close the potential partnership for OneRF Ablation System?
