Motus GI Holdings, Inc. Provides Details on Pricing of $5.0 Million Public Offering
Motus GI Holdings, Inc., a medical technology company focused on improving clinical outcomes and enhancing the cost-efficiency of colonoscopy procedures, recently announced the pricing of its public offering of common stock. The company aims to raise $5.0 million through this offering, which will be used to support its ongoing commercialization efforts and further develop its innovative medical devices.
Motus GI Holdings, Inc. has priced the offering at $1.00 per share, with each share accompanied by a warrant to purchase one additional share of common stock at an exercise price of $1.00 per share. The warrants will be exercisable immediately and will expire five years from the date of issuance. The company has granted the underwriters a 45-day option to purchase up to an additional 15% of the shares of common stock and/or warrants offered in the public offering.
The offering is expected to close on or around September 17, 2021, subject to customary closing conditions. Maxim Group LLC is acting as the sole book-running manager for the offering.
Motus GI Holdings, Inc. plans to use the net proceeds from the offering to support its ongoing commercialization efforts for its flagship product, the Pure-Vu® System. This system is designed to improve visualization during colonoscopy procedures by effectively cleaning the colon in real-time. By enhancing visualization, the Pure-Vu® System can help physicians detect and remove polyps and other lesions more accurately, leading to improved clinical outcomes for patients.
The Pure-Vu® System has already received clearance from the U.S. Food and Drug Administration (FDA) and has been successfully used in various clinical settings. Motus GI Holdings, Inc. aims to expand its commercialization efforts and increase market penetration for this innovative medical device.
In addition to supporting commercialization efforts, the company intends to use the proceeds to further develop its technology platform and expand its product pipeline. Motus GI Holdings, Inc. is committed to advancing the field of gastrointestinal endoscopy by developing novel solutions that address unmet needs and improve patient care.
Motus GI Holdings, Inc. believes that the pricing of this public offering will provide the necessary capital to execute its growth strategy effectively. The company is confident in the potential of its Pure-Vu® System and is dedicated to driving adoption among healthcare providers worldwide.
Investors and stakeholders in the medical technology sector are closely watching Motus GI Holdings, Inc. as it continues to make significant strides in improving colonoscopy procedures. The company’s commitment to innovation and its focus on enhancing clinical outcomes position it as a key player in the field.
As the public offering progresses and the funds are raised, Motus GI Holdings, Inc. will be well-positioned to accelerate its commercialization efforts, expand its product portfolio, and drive further advancements in gastrointestinal endoscopy. With its innovative solutions, the company aims to revolutionize the way colonoscopies are performed, ultimately benefiting patients and healthcare providers alike.
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