Motus gi announces pricing of $10 million registered direct offering priced at-the-market
Fort lauderdale, fla., aug. 28, 2020 (globe newswire) -- motus gi holdings, inc., (nasdaq: mots) ("motus gi" or the "company"), a medical technology company providing endoscopy solutions that improve clinical outcomes and enhance the cost-efficiency associated with the diagnosis and management of gastrointestinal conditions, announced today that it has entered into a securities purchase agreement with a single healthcare focused institutional investor providing for the sale and issuance of 8,733,625 shares of common stock (or pre-funded warrants to purchase common stock in lieu thereof) at an effective purchase price of $1.145 per share of common stock (or $1.144 per pre-funded warrant) in a registered direct offering priced at-the-market under nasdaq rules. the offering is expected to result in gross proceeds to motus gi of approximately $10 million. the closing of the offering is subject to customary closing conditions and is expected to close on or about september 1, 2020.
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