Myomo Prices Public Offering

11/30/17

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Myomo, Inc. (NYSE American: MYO), a commercial stage medical robotics company, today announced that it has priced an underwritten public offering of 4,175,000 shares of its common stock and accompanying warrants to purchase 4,175,000 shares of common stock. Each share of common stock is being sold together with one warrant to purchase one share of common stock, at a combined price to the public of $2.40 per share of common stock and accompanying warrant, for gross proceeds of approximately $10.0 million. The warrants have an exercise price of $2.95 per share, are immediately exercisable and will expire on December 4, 2022.

Roth Capital Partners is acting as sole manager.

Net proceeds, after underwriting discounts and commissions and payment of other transaction fees and expenses payable by Myomo, will be approximately $9.1 million.

Myomo intends to use the net proceeds of the offering for debt repayment and working capital and other general corporate purposes. In connection with the offering, Myomo has granted the underwriter a 45-day option to purchase up to an additional 626,250 shares of common stock and/or warrants to purchase 626,250 shares of common stock to cover over-allotments, if any. The offering is expected to close on or about December 4, 2017, subject to satisfaction of customary closing conditions.

About Myomo

Myomo, Inc. is a commercial stage medical robotics company that offers expanded mobility for those suffering from neurological disorders and upper limb paralysis. Myomo develops and markets the MyoPro product line. MyoPro is a powered upper limb orthosis designed to restore function to the weakened or paralyzed arms of patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury, ALS or other neuromuscular disease or injury.

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