Fort Lauderdale, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Exchange Listing, LLC is pleased to announce the successful initial public offering and NYSE American listing for its client, NeurAxis, Inc. ("NeaurAxis" or the "Company") (NYSE American: NRXS) on August 9, 2023. As a result of this milestone achievement, NeurAxis’ common stock commenced trading on the NYSE American exchange under the ticker symbol 'NRXS.' The offering is expected to close on August 11, 2023 subject to the satisfaction of customary closing conditions.
Concurrent with the listing, NeurAxis announced the pricing of its underwriter's initial public offering of 1,098,667 shares of common stock at a price of $6 per share. In addition, NeurAxis has granted the underwriters a 45-day option to purchase up to an additional 164,800 of its common shares at the offering price of $6 per share, less the underwriting discounts and commissions, to cover over-allotments, if any. The gross proceeds to NeurAxis from the offering, before deducting the underwriting discounts, commissions, and offering expenses, are expected to be approximately $6,592,000.
Alexander Capital L.P. acted as sole book-running manager for the offering. Lucosky Brookman LLP served as counsel to NeurAxis. Carmel, Milazzo & Feil LLP served as counsel to the underwriters.
NeurAxis, Inc., is a medical technology company focused on neuromodulation therapies to address chronic and debilitating conditions in children and adults. The company is dedicated to advancing science and leveraging evidence-based medicine to drive the adoption of its IB-Stim therapy, which is its proprietary Percutaneous Electrical Nerve Field Stimulation (PENFS) technology, by the medical, scientific, and patient communities. IB-Stim is FDA-cleared for functional abdominal pain associated with irritable bowel syndrome (IBS) in adolescents 11-18 years old. Additional clinical trials of PENFS in multiple pediatric and adult conditions with large unmet healthcare needs are currently underway.
“The Exchange Listing team has been an invaluable tool over the years of working together toward this IPO. We are so grateful to the team for their unwavering support and expertise in helping us achieve this huge milestone that has the potential to impact many lives in the future,” said Brian Carrico, president, and CEO of NeurAxis.
“We feel so proud to have been a part of this achievement. NeurAxis is changing the lives of countless children and their families. NeurAxis uses superior science, and evidence-based research, and building continually works to provide an unparalleled body of clinical evidence, which is necessary for adoption by the medical and scientific community. Congratulations to Brian and his team for their hard work and perseverance,” said Peter Goldstein, CEO of Exchange Listing.
Exchange Listing, LLC provides growth companies with cost-effective and efficient direct access to one-stop solutions in strategic planning and implementation of listing and uplisting on senior exchanges such as the Nasdaq or NYSE. Their focus on company-specific structuring to meet listing requirements makes them the primary point of contact with the exchange, investment bankers, and lawyers throughout the listing process. With extensive experience in investment banking, securities law, corporate governance, and business management, Exchange Listing and its strategic partners facilitate clients' listing and capital markets objectives.
For further information, please contact:
Peter Goldstein Email: Peter@exchangelistingllc.com Phone: (954) 998-5510
Visit the Company's Website: https://exchangelistingllc.com/
