On Thursday, Shares of EnteroMedics Inc (NASDAQ:ETRM), lost -11.11% to $ 0.529.
EnteroMedics Inc, declared that it has commenced an underwritten public offering of units. Each unit will comprise of a share of common stock, Series A warrants to purchase common stock and Series B warrants to purchase common stock. Investors whose purchase of units in the offering would result in them beneficially owning more than the initial beneficial ownership limitation to be comprised of in the warrants following the consummation of the offering will have the opportunity to acquire units with Series C pre-funded warrants substituted for any common stock they would have otherwise attained over the initial beneficial ownership limitation, paying the same price per unit. The units will be sold by EnteroMedics subject to market and other conditions.
Canaccord Genuity is acting as sole book-running manager and Craig-Hallum Capital Group is acting as co-manager for the offering.
EnteroMedics intends to use the net proceeds from the offering to continue its commercialization efforts, for clinical and product development activities and for other working capital and general corporate purposes.
EnteroMedics Inc., a medical device company, focuses on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases, and other gastrointestinal disorders.
Finally, Praxair, Inc. (NYSE:PX), ended its last trade with -0.32% loss, and closed at $ 118.90.
Praxair, will release its second quarter 2015 financial results on Wednesday, July 29, 2015, before the market opens and will host a conference call at 11:00 a.m. ET that morning. Following are details for the listen-only conference call, which will be accessible live and on demand to the public and the media.
The earnings release and presentation materials can be accessed at www.praxair.com/investors before the market opens on Wednesday, July 29, 2015.
Praxair, Inc. produces, sells, and distributes atmospheric, process, and specialty gases, in addition to surface coatings in North America, Europe, South America, and Asia. The company offers atmospheric gases, such as oxygen, nitrogen, argon, and rare gases; and process gases comprising carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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