Nemaura Medical prices $2.5M stock offering; shares down 42% premarket

|About: Nemaura Medical, Inc. (NMRD)|By:, SA News Editor

Nemaura Medical (NASDAQ:NMRD) prices its public offering of  Company's common shares and warrants for expected gross proceeds of up to $2.5M.

The offering was priced at $1.04 per share, with each share coupled with one five-year warrant to purchase one share of common stock, at an exercise price of $1.04 per share.

Net proceeds will be used for a U.S. FDA clinical trial, product launch in Europe and the development of sugarBEAT, as well as for general corporate and working capital purposes.

Closing date is December 20.

Shares are down 42% premarket.

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