MYOMO Files 8-K: Material Agreement & Financial Update

TL;DR

**Myomo just dropped an 8-K about a new material agreement and financial results, could be big.**

AI Summary

Myomo, Inc. filed an 8-K on January 17, 2024, reporting an event that occurred on January 16, 2024. This filing indicates an entry into a material definitive agreement and provides results of operations and financial condition, along with other events. For investors, this matters because material agreements and financial updates can significantly impact the company's future revenue, expenses, and overall valuation, potentially affecting stock price.

Why It Matters

This filing signals significant corporate actions and financial disclosures that could directly influence Myomo, Inc.'s operational trajectory and market perception.

Risk Assessment

Risk Level: medium — The filing mentions a 'material definitive agreement' and 'results of operations and financial condition' without specific details, creating uncertainty about the nature and impact of these events.

Analyst Insight

A smart investor would await further details on the 'material definitive agreement' and the 'results of operations and financial condition' mentioned in this 8-K before making any investment decisions, as the current filing lacks specific financial figures or contractual terms.

Key Players & Entities

• Myomo, Inc. (company) — the filer of the 8-K
• January 16, 2024 (date) — date of the earliest event reported
• January 17, 2024 (date) — date of filing the 8-K
• 001-38109 (other) — Commission File Number
• MYO (other) — Trading Symbol for Common Stock
• NYSE American (other) — exchange where Common Stock is registered

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share MYO NYSE Americ
• $3.80 — old to the investors at prices equal to $3.80 per Share and $3.7999 per Pre-Funded Wa
• $3.7999 — at prices equal to $3.80 per Share and $3.7999 per Pre-Funded Warrant, respectively, w
• $15,000 — a non-accountable expense allowance of $15,000 and to reimburse A.G.P. for accountable
• $50,000 — .G.P. for accountable expenses of up to $50,000 related to A.G.P.'s legal fees. The S
• $6 million — s expected to receive gross proceeds of $6 million in connection with the Offering before

Filing Documents

• d573347d8k.htm (8-K) — 36KB
• d573347dex41.htm (EX-4.1) — 81KB
• d573347dex51.htm (EX-5.1) — 10KB
• d573347dex101.htm (EX-10.1) — 180KB
• d573347dex102.htm (EX-10.2) — 34KB
• d573347dex991.htm (EX-99.1) — 14KB
• d573347dex992.htm (EX-99.2) — 16KB
• g573347g0116220909545.jpg (GRAPHIC) — 5KB
• g573347g0117195410899.jpg (GRAPHIC) — 3KB
• 0001193125-24-009264.txt ( ) — 604KB
• myo-20240116.xsd (EX-101.SCH) — 3KB
• myo-20240116_lab.xml (EX-101.LAB) — 18KB
• myo-20240116_pre.xml (EX-101.PRE) — 11KB
• d573347d8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement. On January 16, 2024, Myomo, Inc. (the "Company") entered into a securities purchase agreement (the "Purchase Agreement") with certain investors named therein, including certain of the Company's 5% stockholders and certain directors and employees of the Company, pursuant to which the Company agreed to issue and sell, in a registered direct offering (the "Offering") (i) 1,354,218 shares of the Company's common stock (the "Common Stock"), par value $0.0001 per share (each a "Share" and collectively the "Shares"); and (ii) pre-funded warrants in lieu of shares of Common Stock (the "Pre-Funded Warrants") to purchase 224,730 shares of Common Stock. The Shares and Pre-Funded Warrants will be sold to the investors at prices equal to $3.80 per Share and $3.7999 per Pre-Funded Warrant, respectively, which represents the closing sale price of the Company's Common Stock on the NYSE American on January 16, 2024, less a $0.0001 per share exercise price in the case of the Pre-Funded Warrants. In connection with the Purchase Agreement, the Company entered into a placement agency agreement ("Placement Agency Agreement") with A.G.P./Alliance Global Partners ("A.G.P."), pursuant to which A.G.P. agreed to serve as the exclusive placement agent for the issuance and sale of the Shares and Pre-Funded Warrants. The Company has agreed to pay A.G.P. an aggregate cash fee equal to 7% of the aggregate proceeds raised from the sale and issuance of the Shares and Pre-Funded Warrants. Pursuant to the Placement Agency Agreement, the Company also agreed to pay A.G.P. a non-accountable expense allowance of $15,000 and to reimburse A.G.P. for accountable expenses of up to $50,000 related to A.G.P.'s legal fees. The Shares and Pre-Funded Warrants actually sold and the Shares issuable upon the exercise of the Pre-Funded Warrants were offered by the Company pursuant to a shelf registration statement on Form S-3 that was filed with the Securiti

02

Item 2.02 Results of Operations and Financial Condition. On January 17, 2024, the Company issued a press release providing preliminary revenue and operating metrics for the fourth quarter of 2023. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference. The information under this Item 2.02 (including Exhibit 99.1) is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

01

Item 8.01 Other Events. On January 17, 2024, the Company issued a press release announcing the Offering. A copy of the press release is furnished hereto as Exhibit 99.2 and incorporated herein by reference.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 4.1 Form of Pre-Funded Warrant 5.1 Opinion of Goodwin Procter LLP 10.1 Securities Purchase Agreement, dated as of January 16, 2024, by and between Myomo, Inc. and the investors party thereto 10.2 Placement Agency Agreement, dated as of January 16, 2024, by and between Myomo, Inc. and A.G.P./Alliance Global Partners 23.1 Consent of Goodwin Procter LLP (contained in Exhibit 5.1 above) 99.1 Press Release dated January 17, 2024, furnished herewith. 99.2 Press Release dated January 17, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 17, 2024 MYOMO, INC. By: /s/ David A. Henry Name: David A. Henry Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR