NeuroMetrix, Inc Announces Pricing of Initial Public Offering
WALTHAM, Mass. - BUSINESS WIRE - July 22, 2004 - NeuroMetrix, Inc. (Nasdaq: NURO) announced today the pricing of its initial public offering of 3,000,000 shares of its common stock at $8.00 per share. All of the shares are being offered by the Company. The shares will be quoted on the Nasdaq National Market under the symbol "NURO" beginning today. The underwriters have a 30-day option to purchase from the Company up to 450,000 additional shares of common stock to cover over-allotments, if any. The representatives of the underwriters in the offering are Punk, Ziegel & Company and WR Hambrecht + Co.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on July 21, 2004. Copies of the final prospectus related to the offering may be obtained, when available, from Punk, Ziegel & Company, L.P., 520 Madison Avenue, 7th Floor, New York, NY 10022 (Main Phone: 212-308-9494; Main Fax: 212-308-2203).
NeuroMetrix is a medical device company establishing a new standard of care through the design, development and sale of proprietary products used to diagnose neuropathies. Neuropathies are diseases of the peripheral nerves and parts of the spine that frequently are caused by or associated with diabetes, low back pain and carpal tunnel syndrome, as well as other clinical disorders.
The NC-stat System, the Company's neuropathy diagnostic system, has been on the market since May 1999 and is presently used in over 1,800 physician's offices, clinics and other health care facilities in the United States. The Company holds issued utility patents covering a number of important aspects of the NC-stat System.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.