NeurAxis To Sell About 1.5 Mln Stock At $3.25/shr; Stock Plunges In Pre-market

(RTTNews) - NeurAxis, Inc. (NRXS), a medical technology company, on Wednesday announced it has entered into definitive agreements to sell about 1.5 million shares at $3.25 per share.

Shares of NeurAxis are decreasing by around 24% in the pre-market trading.

The 1,538,461 offering is expected to close on or about May 22

NeurAxis expects to raise approximately $5 million in gross proceeds from the offering. The company said it plans to use the net proceeds for working capital and general corporate purposes.

In the pre-market trading, NeurAxis is 24.06% lesser at $3.0300 on the New York Stock Exchange.