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NeuroMetrix, Inc. announced steps to enhance shareholder value, including the appointment of Joshua S. Horowitz as a new independent director with extensive investing and public company board experience. The company also terminated its at-the-market equity facility. These actions were taken following feedback from one of its largest shareholders, Ephraim Fields of Echo Lake Capital, with the goal of maximizing shareholder value.
NeuroMetrix, Inc. ha annunciato misure per aumentare il valore per gli azionisti, inclusa la nomina di Joshua S. Horowitz come nuovo direttore indipendente con vasta esperienza in investimenti e in consigli di amministrazione di società quotate. La società ha anche terminato il suo impianto di equity sul mercato. Queste azioni sono state intraprese seguendo il feedback di uno dei suoi maggiori azionisti, Ephraim Fields di Echo Lake Capital, con l'obiettivo di massimizzare il valore per gli azionisti.
NeuroMetrix, Inc. anunció medidas para potenciar el valor para los accionistas, incluyendo el nombramiento de Joshua S. Horowitz como nuevo director independiente con amplia experiencia en inversiones y en juntas de empresas públicas. Además, la compañía terminó su facilidad de capital en el mercado. Estas acciones se tomaron tras recibir comentarios de uno de sus mayores accionistas, Ephraim Fields de Echo Lake Capital, con el objetivo de maximizar el valor para los accionistas.
NeuroMetrix, Inc.는 주주 가치를 증진하기 위한 조치를 발표했으며, 이에는 투자 및 공개 회사 이사회 경험이 풍부한 새로운 독립 이사 조슈아 S. 호로위츠의 임명이 포함됩니다. 또한 회사는 시장에서의 자본 시설을 종료하였습니다. 이러한 조치는 주주 가치를 극대화하고자 하는 목표로, 대주주 중 하나인 에코레이크 캐피탈의 에프라임 필즈로부터의 피드백을 바탕으로 이루어졌습니다.
NeuroMetrix, Inc. a annoncé des mesures pour renforcer la valeur pour les actionnaires, y compris la nomination de Joshua S. Horowitz comme nouveau directeur indépendant ayant une vaste expérience des investissements et des conseils d'administration d'entreprises cotées. La société a également mis fin à son dispositif de capital en marché. Ces actions ont été prises suite aux retours de l'un de ses plus grands actionnaires, Ephraim Fields d'Echo Lake Capital, dans le but de maximiser la valeur pour les actionnaires.
NeuroMetrix, Inc. hat Schritte zur Steigerung des Aktionärswerts angekündigt, einschließlich der Ernennung von Joshua S. Horowitz zum neuen unabhängigen Direktor mit umfangreicher Erfahrung in Investitionen und in Aufsichtsräten von börsennotierten Unternehmen. Das Unternehmen hat auch seine At-the-Market-Eigenkapitalfazilität beendet. Diese Maßnahmen wurden nach Rückmeldungen von einem der größten Aktionäre, Ephraim Fields von Echo Lake Capital, mit dem Ziel getroffen, den Aktionärswert zu maximieren.
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Joshua S. Horowitz joins Board of Directors At-the-market equity facility terminated
WOBURN, Mass., April 19, 2024 (GLOBE NEWSWIRE) -- NeuroMetrix, Inc. (NASDAQ: NURO) today announced two steps to enhance shareholder value following feedback and recommendations from one of its largest shareholders, Ephraim Fields of Echo Lake Capital.
The Board has approved the appointment of Joshua S. Horowitz as a new independent director with a 1-year term. Mr. Horowitz is a professional investor with over 22 years of investing experience. Since January 2012, he has served as a portfolio manager with Palm Management (US) LLC. Mr. Horowitz also brings extensive public company board experience. Earlier in his career, he served as both Director, and ultimately, Interim Chairman of the Board of Directors of Birner Dental Management Services, Inc. from December 2017 until the Company's sale to Mid Atlantic Dental Partners in January 2019. Since March 2020, Mr. Horowitz has served as a Director and Chair of the Finance Committee of Limbach Holdings. He has also served as a Director of Barnwell, Inc. since February 2023. In December 2023, Mr. Horowitz was named chairman of the Board of Directors of BK Technologies. Mr. Horowitz holds a B.S. in Management from Binghamton University and also studied at the Bath School of Management in the United Kingdom.
The Company has also terminated its at-the-market (ATM) equity facility it had entered into with Ladenburg Thalmann & Co., Inc. on October 22, 2021.
“I am pleased to welcome Joshua to the NeuroMetrix Board of Directors. His deep investing and public company Board experience, particularly with micro and small cap companies, is highly relevant as we navigate our recently announced strategic evaluation process,” said Shai N. Gozani, M.D., Ph.D., Chairman and CEO of NeuroMetrix. “I also appreciate the feedback and strategic recommendations from Echo Lake Capital and other investors. I believe we all have a common goal of maximizing NeuroMetrix shareholder value.”
Ephraim Fields of Echo Lake Capital commented, “I thank NeuroMetrix’s Board for considering my suggestions and believe the actions announced today will be very helpful in maximizing value for all shareholders.”
About NeuroMetrix
NeuroMetrix is a commercial stage healthcare company that develops and commercializes neurotechnology devices to address unmet needs in the chronic pain and diabetes markets. The Company's products are wearable or hand-held medical devices enabled by proprietary consumables and software solutions that include mobile apps, enterprise software and cloud-based systems. The Company has two commercial brands. Quell® is a wearable neuromodulation platform. DPNCheck® is a point-of-care screening test for peripheral neuropathy. For more information, visit www.neurometrix.com.
Source: NeuroMetrix, Inc.
Thomas T. Higgins SVP and Chief Financial Officer neurometrix.ir@neurometrix.com
FAQ
Who is the new independent director appointed by NeuroMetrix?
Joshua S. Horowitz has been appointed as a new independent director with a 1-year term.
What is Joshua S. Horowitz's background?
Joshua S. Horowitz is a professional investor with over 22 years of investing experience and extensive public company board experience.
What action did NeuroMetrix take regarding its at-the-market equity facility?
NeuroMetrix terminated its at-the-market equity facility it had entered into with Ladenburg Thalmann & Co., Inc.
Who provided feedback and recommendations to NeuroMetrix regarding enhancing shareholder value?
Ephraim Fields of Echo Lake Capital provided feedback and recommendations to NeuroMetrix.
What was the goal behind the actions taken by NeuroMetrix?
The goal was to maximize shareholder value based on the feedback and recommendations received.
neurometrix is a commercial stage, innovation driven healthcare company combining bioelectrical and digital medicine to address chronic health conditions including chronic pain, sleep disorders, and diabetes. the company maintains an active research effort and has several pipeline programs. the company is located in waltham, massachusetts and was founded as a spinoff from the harvard-mit division of health sciences and technology in 1996. for more information, please visit neurometrix.com. neurometrix markets the following products: quell® wearable pain relief technology™ quell is 100% drug free wearable technology that has changed the lives of people suffering with chronic pain. it combines clinical strength neurostimulation to treat pain with an easy-to-use app that helps people manage pain and reclaim their lives. quell is doctor recommended and designed for people with chronic back pain, arthritic pain, nerve pain, leg and foot pain, among other chronic pain conditions. quell launc
