NeuroMetrix Announces $5 Million Placement of Preferred Stock with Single Institutional Investor

NeuroMetrix, Inc. NURO (the "Company" or "NURO"), a medical device company focused on the diagnosis and treatment of the neurological complications of diabetes, today announced that it entered into a definitive securities purchase agreement with a single institutional investor providing for the issuance of $5,000,000 of shares of Series A-1 and Series A-2 convertible preferred stock (convertible into a combined total of 2,386,635 shares of common stock) and five year warrants to purchase up to 2,386,635 shares of common stock at an exercise price of $2.00 per share. Subject to certain ownership limitations, the Series A-1 and Series A-2 convertible preferred stock is convertible at any time into shares of common stock at an initial conversion price of $2.095 per share See full press release