Shares of Common Stock and Listed Warrants Have Begun Trading on a
Split-Adjusted Basis on The NASDAQ Capital Market
BOSTON--(BUSINESS WIRE)--
NeuroMetrix, Inc. (NASDAQ:NURO) today confirmed that it has consummated
a one-for-four reverse split of its common stock.
Following the one-for-four reverse split, the Company's common stock
began trading on the NASDAQ Capital Market on a split-adjusted basis
with the opening of the markets on Wednesday, December 2, 2015, under
new CUSIP number 641255500. Additionally, the Company's warrants to
purchase common stock that are listed on the NASDAQ Capital Market (the
"Listed Warrants") also began trading on a split-adjusted basis with the
opening of the markets on Wednesday, December 2, 2015, under new CUSIP
number 641255153. Following the split, each Listed Warrant and
underlying share of common stock was divided by a factor of four and the
exercise price was increased by a factor of four from $1.25 to $5.00.
Accordingly, four pre-split Listed Warrants are now required to exercise
one share of common stock at an exercise price of $5.00 per share.
Shares of the Company's common stock and the Company's Listed Warrants
to purchase common stock will continue to trade under the symbols "NURO"
and "NUROW". Immediately subsequent to the reverse stock split, there
were approximately 3,446,310 shares of the Company's common shares
issued and outstanding and approximately 3,638,250 Listed Warrants to
purchase 3,638,250 shares of common stock at an exercise price of $5.00.
For more information regarding the Company's reverse stock split, please
refer to the proxy statement filed by the Company with the Securities
and Exchange Commission on Schedule 14A on September 29, 2015.
About NeuroMetrix
NeuroMetrix is an innovative health-care company that develops wearable
medical technology and point-of-care tests that help patients and
physicians better manage chronic pain, nerve diseases, and sleep
disorders. The company is located in Waltham, Massachusetts and was
founded as a spinoff from the Harvard-MIT Division of Health Sciences
and Technology in 1996. For more information, please visit www.NeuroMetrix.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151202006285/en/
NeuroMetrix, Inc.
Thomas T. Higgins, 781-314-2761
SVP and
Chief Financial Officer
neurometrix.ir@neurometrix.com
Source: NeuroMetrix, Inc.
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