viewNemaura Medical Inc

Nemaura Medical to launch $11.5 million public offering as it commercializes sugarBEAT glucose monitor

The UK-based company will issue 793,103 shares of its common stock and one-half of a warrant for a combined purchase price of $7.25 each

Nemaura Medical Inc - Nemaura Medical Inc to launch $11.5 million public offering
Nemaura’s announcement comes hot on the heels of its move to acquire diabetes firm Healthimation LLC

Nemaura Medical Inc (NASDAQ:NMRD) has announced plans to launch a public offering to raise up to $11.5 million to help fund the development and commercialization of its diagnostic devices and subscription services. 

Under its “best efforts” offering, the Loughborough, UK-based company said it will issue 793,103 shares of its common stock. Each share of common stock and accompanying one-half of a warrant is being sold for a combined purchase price of $7.25 each. 

Each whole warrant will have an exercise price of $8 a share and is exercisable immediately. The warrants will expire five years from the date of issuance.

READ: Nemaura Medical enters into LOI to acquire diabetes-care firm Healthimation to 'complement' proBeat service

Nemaura’s announcement comes a day after it entered into a letter of intent (LOI) to acquire diabetes firm Healthimation LLC, which is commercializing an application-based diabetes prevention program using Hollywood-level animation for creative user engagement strategies.

Nemaura is developing micro-systems-based wearable diagnostic devices and currently commercializing sugarBEAT, its non-invasive and flexible continuous glucose monitor.

The devices and sugarBEAT are offered in conjunction with BEATdiabetes, a planned health subscription service designed to help people with Type 2 diabetes and pre-diabetes through personalized lifestyle coaching.

In a statement, Nemaura said it intends to spend some of the offering proceeds on the commercial start of the subscription service in the US and product launch in Europe, among other things.

Kingswood Capital Markets, a division of Benchmark Investments, Inc, is acting as the sole placement agent in connection with the offering, which closes July 30.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Nemaura Medical Inc

Price: 3.7 USD

Market: NASDAQ
Market Cap: $84.76 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Nemaura Medical Inc named herein, including the promotion by the Company of Nemaura Medical Inc in any Content on the Site, the Company...


Full interview: Nemaura Medical reveals details of upcoming European launch...

Nemaura Medical Inc (NASDAQ:NMRD) Vice President of Strategy & Strategic Alliances Dr Fred Schaebsdau tells Proactive the medical technology company is targeting a commercial launch for its flagship SugarBEAT continuous glucose monitor in the UK and in Ireland in January 2020. Dr...

on 10/08/2019

2 min read