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Medical device manufacturer NeuroAxis (NRXS) has set the terms for a proposed $15 million initial public offering.
nerve axis said in a profile that they are planning to offer 1.9 million shares priced between $7 and $9, which would raise about $15 million if price in the middle. Underwriters will be granted a 45-day option to purchase up to 281 thousand additional shares.
The company intends to list its shares on Nasdaq under the symbol NRXS. Alexander Capital acts as the main book seller.
Based in Indiana, NeuroAxis has been working on neuromodulatory therapies for children with chronic and debilitating diseases. Its main product, IB-Stim, has been approved by the FDA as a non-implantable nerve stimulator for the treatment of functional abdominal pain associated with IBS.
For more on NeuroAxis, check out Donovan Jones’s “NeurAxis begins US$30 million IPO effort.”
