Medical device maker NeurAxis (NASDAQ:NRXS) has updated terms for an $8M initial public offering, adding that it was now seeking to list on NYSE American rather than Nasdaq.
NeurAxis said that it is looking to offer 938K shares priced at $8 per share, which would raise around $8M if priced at the midpoint.
Selling shareholders would be offering 1.9M shares. The company would not be receiving any proceeds from that sale.
Underwriters would receive a 45-day option to buy up to 141K additional shares. Alexander Capital is serving as lead bookrunner. The company intends to list its shares on NYSE American under the symbol NRXS.
In early June, NeurAxis dropped terms from its filing. The company originally sought to raise around $15M.
Based in Indiana, NeurAxis has been working on neuromodulator therapies for children suffering from chronic and debilitating illnesses. Its lead product, IB-Stim, has been cleared by the FDA as a non-implanted nerve stimulator device for the treatment of functional abdominal pain associated with IBS.
More on NeurAxis:
NeurAxis drops terms in latest filing for proposed $15M IPO
Medical device maker NeurAxis proposes $8 unit price for $15M IPO
NeurAxis Seeks $15 Million IPO For Device Expansion
Medical device maker NeurAxis sets terms for $15M IPO