Myomo closes $6m funding round

Myomo said today that it closed a $6.4 million round of financing.

The Cambridge, Mass.-based wearable medical robotics company said that it floated approximately four million shares of its common stock at $1.40 per share for gross proceeds of approximately $5.5 million.

The offering included a fully-exercised underwriter’s option for an additional 592,500 shares of common stock at the same price, bringing the total raised up to approximately $6.4 million, the company said.

Proceeds from the offering are slated to support working capital and other general corporate purposes, Myomo said in a press release.

Shares in Myomo are up approximately 1.6% so far today, at $1.29 as of 10:53 a.m. EST.

Last week, Myomo said that it named David Henry as its new CFO, taking over for current chief financial officer Ralph Goldwasser, who is retiring effective February 18.

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