05:57 PM EST, 12/04/2024 (MT Newswires) -- Myomo ( MYO ) on Wednesday filed a preliminary prospectus supplement for a planned public offering of common shares.

The company expects to use the proceeds, together with existing cash and cash equivalents, to fund an increase in advertising expenses and headcount, product development, and for working capital and general corporate purposes.

Shares of Myomo ( MYO ) fell 6.5% in recent after-hours trading.