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Nemaura Announces Proposed Underwritten Public Offering

Nemaura Medical Inc.

Benzinga · -
Nemaura Medical Inc. (NASDAQ: NMRD) ("Nemaura" or the "Company"), a medical technology company focused on developing micro-systems-based wearable diagnostic devices and currently commercializing sugarBEAT®, its non-invasive and flexible continuous glucose monitor ("CGM"), together with BEAT®diabetes, a planned health subscription service designed to help people with Type 2 diabetes and pre-diabetes through personalized lifestyle coaching, announced that it intends to offer for sale shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering. In addition, Nemaura expects to grant the underwriters a 45-day option to purchase up to an additional 15 percent of the shares of common stock and/or warrants to purchase common stock offered in the public offering solely to cover over-allotments, if any. The offering is subject to market and other conditions. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (No. 333-230535) previously filed with and declared effective by the Securities and Exchange Commission (SEC) on April 8, 2019. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.