Cambridge, Mass. (March 15, 2017) – Myomo, Inc., a commercial stage medical robotics company, today announced a Regulation A+ initial public offering that allows any investor the opportunity to invest in the Company’s vision for expanded mobility for those suffering from neurological disorders and upper limb paralysis. Myomo’s non-invasive technology, exclusively licensed from Massachusetts Institute of Technology, restores a patient’s ability to use their partially paralyzed or weakened arms and hands again so that they can return to work, live independently and reduce their cost of care.
Myomo is seeking to become the first company to launch a Regulation A+ IPO with listing on the New York Stock Exchange MKT (NYSE MKT). TriPoint Global Equities, LLC, working with its online division BANQ® (www.banq.co), will act as the lead managing selling agent and bookrunner for the offering. Myomo intends to use the proceeds from the offering to fund sales and marketing, product development, repayment of debt, and for working capital and other general corporate purposes.
“We are very excited to share our vision of restoring upper limb mobility to millions of Americans and others worldwide with a broad set of individual investors that now have the opportunity to invest in our Company, alongside accredited investors and institutions, to acquire shares at the initial offering price,” said Paul R. Gudonis, CEO of Myomo. “While a traditional public offering is generally reserved for large institutions and the Wall Street elite to invest at this stage, we are taking advantage of new SEC regulations to level the playing field for all investors to participate concurrently in our IPO.”
“I am thrilled that Myomo is planning to become the first company to ever bring a Regulation A+ offering to the NYSE MKT,” said Mark Elenowitz, CEO of TriPoint. “It has been 84 years since the Securities Act of 1933 was enacted, but with the Title IV of the Jumpstart Our Business Startups (JOBS) Act, Myomo leads us into exciting new territory where Main Street meets Wall Street.”