Nemaura Announces Proposed Underwritten Public Offering
July 27 2020 - 7:17PM
Business Wire
Nemaura Medical Inc. (NASDAQ: NMRD) (“Nemaura” or the
“Company”), a medical technology company focused on developing
micro-systems-based wearable diagnostic devices and currently
commercializing sugarBEAT®, its non-invasive and flexible
continuous glucose monitor (“CGM”), together with BEAT®diabetes, a
planned health subscription service designed to help people with
Type 2 diabetes and pre-diabetes through personalized lifestyle
coaching, announced that it intends to offer for sale shares of its
common stock and warrants to purchase shares of its common stock in
an underwritten public offering. In addition, Nemaura expects to
grant the underwriters a 45-day option to purchase up to an
additional 15 percent of the shares of common stock and/or warrants
to purchase common stock offered in the public offering solely to
cover over-allotments, if any. The offering is subject to market
and other conditions. There can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
The securities described above are being offered by the Company
pursuant to a shelf registration statement on Form S-3 (No.
333-230535) previously filed with and declared effective by the
Securities and Exchange Commission (SEC) on April 8, 2019. A
preliminary prospectus supplement and the accompanying prospectus
relating to and describing the terms of the offering will be filed
with the SEC and will be available on the SEC's website at
http://www.sec.gov. The final terms of the offering will be
disclosed in a final prospectus supplement to be filed with the
SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, 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 any such state or jurisdiction.
Cautionary Statement Regarding Forward-Looking
Statements:
The statements in this press release that are not historical
facts may constitute forward-looking statements that are based on
current expectations and are subject to risks and uncertainties
that could cause actual future results to differ materially from
those expressed or implied by such statements. Those risks and
uncertainties include, but are not limited to, our ability to
consummate this offering. These and other risks and uncertainties
are identified and described in more detail in Nemaura’s filings
with the United States Securities and Exchange Commission,
including, without limitation, its Annual Report on Form 10-K for
the most recently completed fiscal year, its Quarterly Reports on
Form 10-Q, and its Current Reports on Form 8-K. Nemaura undertakes
no obligation to publicly update or revise any forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20200727005834/en/
Investor Contact: Dave Gentry, CEO RedChip Companies Office:
1.800.RED.CHIP (733.2447) Cell: 407.491.4498 dave@redchip.com
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