EnteroMedics plans $20 million at-the-market distribution agreement

Offering will be conducted by agent Canaccord, company reports in 8-K

By Devika Patel

Knoxville, Tenn., July 31 - EnteroMedics Inc. negotiated a $20 million at-the-market equity distribution agreement with Canaccord Genuity Inc. on July 31, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The agent will be paid a 2% commission.

St. Paul, Minn.-based EnteroMedics develops implantable systems for the treatment of obesity and other gastrointestinal disorders.

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