NeuroMetrix to sell $15 million preferred units at $1,000 to public

Deal offers units with five-year warrants to fund corporate purposes

By Devika Patel

Knoxville, Tenn., Oct. 22 – NeuroMetrix, Inc. plans to sell 10,000 units in a public sale, according to a Form S-1 filed Thursday with the Securities and Exchange Commission. The company has registered up to $15 million of underlying stock.

The units, which will be sold at $1,000 apiece, will consist of series C convertible preferred stock and warrants. The warrants will be exercisable for five years.

Proceeds will be used for the commercialization of Quell, a pain management device, in the United States and for general corporate purposes.

The medical device company has headquarters in Waltham, Mass.

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