EnteroMedics

Canaccord Genuity is pleased to announce that on July 6, 2015, it completed an underwritten follow-on offering of common stock and warrants for EnteroMedics Inc. (NASDAQ: ETRM).  The company issued a total of 40,229,886 units. Each unit consists of one share of common stock, 0.50 of a Series A warrant to purchase one share of common stock, and 0.50 of a Series B warrant to purchase one share of common stock, at a purchase price of $0.87 per unit.  EnteroMedics intends to use the net proceeds from the offering to continue its commercialization efforts in the United States and internationally, for clinical and product development activities and for other working capital and general corporate purposes.  Canaccord Genuity acted as sole bookrunning manager for the offering. 

EnteroMedics is a medical device company focused on the development and commercialization of its neuroscience based technology to treat obesity and metabolic diseases. vBloc® Neurometabolic Therapy, delivered by a pacemaker-like device called the Maestro® Rechargeable System, is designed to intermittently block the vagus nerves using high-frequency, low-energy, electrical impulses. EnteroMedics' Maestro Rechargeable System has received U.S. Food and Drug Administration approval, CE Mark and is listed on the Australian Register of Therapeutic Goods.