NeuroMetrix to Float More Stock; Bought More NURO

D'oh! It's happened again... existing shareholders take hit as a company floats more stock at a huge discount to the current stock price. This time it's NeuroMetrix.

NeuroMetrix, Inc. (Nasdaq: NURO - News) today announced that it has priced a public offering of up to 10,500,000 Units at a price per Unit of $1.00, for aggregate gross proceeds of up to $10,500,000, pursuant to its previously filed Registration Statement on Form S-1 (Reg. No. 333-178165). Each Unit consists of one share of common stock and one warrant to purchase one half share of common stock, exercisable at a price of $1.15 per share. The warrants may be exercised at any time after six months from the date of the closing and will expire after five years.

NURO closed yesterday (02012.02.07) at $1.15. Three months ago to the day NURO hit an intra-day high of $2.02. I added to our NURO holdings on 02011.12.30 at $1.20.

Stocks::Stuffer posting on Friday, 02011.12.30... Bought More NeuroMetrix (NURO). I ended the posting with the following (quoting self): "I would have liked to bought more, but cash was a limiting factor." Thank goodness I was low on cash; otherwise, I would have bought more NURO shares at $1.20 only to see an almost immediate 20% loss.

D'oh! I couldn't resist. I added to our NURO holdlings today (02012.02.08) buying more NURO shares at $0.94.