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Medical device maker NeurAxis (NRXS) has set terms for a proposed $15M initial public offering.
NeurAxis said in a filing that it is planning to offer 1.9M shares priced between $7 and $9, which would raise around $15M if priced at the midpoint. Underwriters would be granted a 45-day option to buy up to 281K additional shares.
The company intends to list its shares on Nasdaq under the symbol NRXS. Alexander Capital is serving as lead bookrunner.
Based in Indiana, NeurAxis has been working on neuromodulator therapies for children suffering from chronic and debilitating illnesses. Its lead product, IB-Stim, has been cleared by the FDA as a non-implanted nerve stimulator device for the treatment of functional abdominal pain associated with IBS.
For more on NeurAxis, check out Donovan Jones’s “NeurAxis begins $30M US IPO Effort.”
