Dawson James Securities Announces Closing of $2.0 Million Offering for Nemaura Medical, Inc.
December 20 2018 - 3:37PM
Dawson James Securities, Inc. in conjunction with Nemaura Medical
(Nasdaq: NMRD) announced today the closing of a public offering of
1,942,061 Units resulting in gross proceeds of approximately $2.0
million. The Unit consisted of one common share sold at $1.04
per share, an approximate 25% discount to the market price ($1.39)
of NMRD at deal announcement and a series of 1,942,061 60-Month
Warrants (100% Coverage) with an exercise price of $1.04.
Dawson James Securities, Inc. acted as the sole
placement agent on the transaction.
Nemaura Medical plans to use the net proceeds
from the offering towards a U.S. FDA clinical trial, product launch
in Europe and the development of a second generation of sugarBEAT®,
as well as for general corporate and working capital
purposes.
This offering is being made pursuant to an
effective “shelf” registration statement on Form S-3 (File No.
333-210293) that was previously filed with the Securities and
Exchange Commission (“SEC”) and declared effective by the SEC on
March 31, 2016. The offering will be made only by means of a
prospectus supplement and accompanying prospectus. The preliminary
prospectus supplement and accompanying prospectus related to the
offering has been filed with the SEC and is available on the SEC’s
website located at http://www.sec.gov. Copies of the
prospectus supplement and the accompanying prospectus relating to
this offering may be obtained by contacting Dawson James
Securities, Inc., Attention: Prospectus Department, 1 North Federal
Highway, 5th Floor, Boca Raton, FL
33432, mmaclaren@dawsonjames.com or toll free at
866.928.0928.
About Nemaura Medical, Inc.
Nemaura Medical (NASDAQ:NMRD) is a medical technology company
developing sugarBEAT® as a non-invasive, affordable and
flexible Continuous Glucose Monitor (CGM) designed to help people
with diabetes and pre-diabetics to better manage their glucose
levels by spending more time in range. Insulin users can
adjunctively use sugarBEAT® when calibrated with a finger-stick
glucose reading.
SugarBEAT® consists of a daily disposable adhesive skin-patch
connected to a rechargeable transmitter, with an app displaying
glucose readings at five-minute intervals for periods of up to 24
hours.
For more information visit: www.NemauraMedical.com
www.SugarBEAT.com
About Dawson James Securities,
Inc.
Dawson James Securities specializes in capital
raising for small and microcap public and private growth companies
primarily in the Life Science/Health Care, Technology and Consumer
sectors and is a full service investment banking firm with
research, institutional and retail sales, and execution trading and
corporate services. Headquartered in Boca Raton, FL, Dawson
James is privately held with offices in New York, Maryland and New
Jersey. www.dawsonjames.com
Safe Harbor Statement
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995: This news release
may contain forward-looking information 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, including
statements that include the words “believes”, “expects”,
“anticipates” or similar expressions. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or
achievements of the Company to differ materially from those
expressed or implied by such forward-looking
statements.
Member FINRA/SIPC. For more
information, please contact:
Elise Stern, Managing
Directorestern@dawsonjames.com561-208-2926
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