NeuroMetrix Announces Warrant Redemption
WALTHAM, Mass.--(BUSINESS WIRE)--Mar. 13, 2012--
NeuroMetrix, Inc. (Nasdaq: NURO), a medical device company focused on
the diagnosis and treatment of neurological complications of diabetes,
today announced plans to redeem warrants to purchase an aggregate of
1,430,480 shares of common stock, par value
$0.0001 per share, that were
issued in connection with a
NeuroMetrix securities offering in
September
2009. The warrants will be redeemed in exchange for 138,763 shares of
common stock.
The warrant redemption will satisfy an obligation of the Company under
Securities Purchase Agreements dated September 8, 2009, as amended. The
Company will issue the shares under a prospectus supplement dated March
12, 2012 and an accompanying prospectus dated April 16, 2010, pursuant
to the Company’s shelf registration statement on Form S-3, which was
declared effective by the Securities and Exchange Commission on April
14, 2010. Following the warrant redemption, NeuroMetrix will have
approximately 12.6 million shares of common stock outstanding.
About NeuroMetrix
NeuroMetrix is a medical device company focused on the diagnosis and
treatment of the neurological complications of diabetes. The Company
currently markets products for the detection, diagnosis, and monitoring
of diabetic neuropathies such as diabetic peripheral neuropathy and
median neuropathy (carpal tunnel syndrome). For more information, please
visit http://www.neurometrix.com.
Source: NeuroMetrix, Inc.
NeuroMetrix, Inc.
Thomas T. Higgins, 781-314-2761
Chief
Financial Officer
neurometrix.ir@neurometrix.com
