EnteroMedics reports plans to conduct public offering of equity units

Units sold to fund clinical and product development, working capital

By Devika Patel

Knoxville, Tenn., July 6 – EnteroMedics Inc. will sell units of one common share and one warrant in a public sale, according to a preliminary prospectus supplement filed Monday with the Securities and Exchange Commission. The company also cancelled plans for a $35 million public sale of units that priced on June 30.

Canaccord Genuity is the bookrunner for the latest sale.

Proceeds will be used for clinical and product development, working capital and general corporate purposes.

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

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