Motus GI will sell 4.25 million shares of its common stock at $6 per share as it attempts to raise $25.5 million through a U.S.-based initial public offering, Seeking Alpha reports.
Here's what you should know:
1. Motus GI developed the Pure-Vu System, which assists with colonoscopy preparation.
2. Motus does not yet have a reimbursement code for the Pure-Vu system, and thus needs the public offering to raises funds for further clinical trials.
3. Motus will trade under the symbol MOTS.