Myomo said last week it closed its initial public offering, raising $5 million and listing on the New York Stock Exchange today under the ticker “MYO”.
The Cambridge, Mass.-based company develops and produces myoelectric orthotics for patients with neuromuscular disorders, including its flagship MyoPro line. The orthosis devices are non-invasive, powered braces used to support weak or deformed arms and hands to allow for functional activity.
Myomo said it floated 665,498 shares of stock at $7.50 per sahre in the offering, bringing in an aggregate of $5 million. The company said it also simultaneously closed a private sale of investment units to accredited investors for an additional $2.9 million.
“I am very pleased that we…