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By Colin Kellaher
Medical-technology company Neuraxis has revised the terms of its planned initial public offering, increasing the size of the deal but cutting the expected price.
The Carmel, Ind., company said it now plans to offer nearly 1.17 million shares at $6 apiece in the IPO, compared with prior plans to sell 937,500 shares at $8 each.
Neuraxis, which is focused on developing neuromodulation therapies to address chronic and debilitating conditions, said it now expects net proceeds of about $6 million from the offering, down from a prior estimate of $6.4 million.
In addition, the company said current shareholders now plan to sell about 2.81 million shares in the IPO, up from 1.88 million.
Neuraxis said it has applied to list its shares on the NYSE American under the symbol NRXS.
Write to Colin Kellaher at [email protected]
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