Myomo receives first Medicare Part B payments for MyoPro; terminates Keystone stock agreement

MYOMO, INC.

Received payment on two MyoPro claims under Medicare Part B capped rental program (13-month payout).
CMS proposed rule would reclassify MyoPro to brace benefit category with lump-sum reimbursement; public comments due Aug 29, 2023.
Additional MyoPro claims are currently under review by DME MACs.
Terminated $5M common stock purchase agreement with Keystone Capital Partners by mutual consent; no penalties incurred.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MYOMO, INC. terminated common stock purchase agreement with Keystone Capital Partners, LLC valued at $5,000,000 of common stock (effective 2023-08-24).

Action: termination
Agreement: equity purchase
Counterparty: Keystone Capital Partners, LLC
Value: $5,000,000 of common stock
Effective: 2023-08-24

Exact text from the filing

On August 24, 2023, Myomo, Inc. (the “Company”) and Keystone Capital Partners, LLC (“Keystone”), by mutual written consent, agreed to terminate the common stock purchase agreement dated August 2, 2022 by and between the Company and Keystone pursuant to which Keystone agreed to purchase from us, from time to time, up to $5,000,000 of our common stock, subject to certain limitations. The Company did not incur any early termination penalties in connection with the early termination of such agreement.

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MYOMO, INC. filing history →

Source: SEC EDGAR

accession 0000950170-23-044373

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