KORU Medical Systems
Canaccord Genuity is pleased to announce that on June 23, 2020, it completed a public offering of common stock for KORU Medical Systems (NASDAQ: KRMD) (the “Company”). The Company issued a total of 3,593,750 shares of its common stock at a price to the public of $8.00 per share, which includes the full exercise of the underwriters’ overallotment option. The gross proceeds to the Company, before deducting the underwriting discounts and commissions and estimated offering expenses, were approximately $28.8 million. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes, which may include commercial expansion (including by acquisition), clinical trials and pharmaceutical initiatives, gross margin enhancement and new product innovations. Canaccord Genuity acted as Joint Bookrunning Manager for the offering.
KORU Medical Systems develops easy-to-use, portable specialty infusion solutions for subcutaneous drug delivery at home or in other alternate care settings. The Company’s mechanical ambulatory infusion system enables patients to self-administer subcutaneous immunoglobulin to treat Primary Immunodeficiency Diseases, Chronic Inflammatory Demyelinating Polyneuropathy and various other diseases.
Canaccord Genuity is focused on the corporate finance needs associated with growth companies in the United States, Canada, Europe and Asia. We are structured to provide our clients with a full range of global investment banking services, including corporate finance, research, sales and trading. Our thematic research focusing on companies around the world provides our firm with unique access to growth investors. In the last twelve months, the firm executed 177 public financings that raised approximately $22.1 billion and advised on 74 M&A assignments.
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