Exhibit 99.1
NeuroPace Completes Repurchase of 5.3 Million Shares of Its Common Stock from KCK Ltd.
Mountain View, Calif. – February 20, 2025 – NeuroPace, Inc. (Nasdaq: NPCE), a medical device company focused on transforming the lives
of people living with epilepsy, today announced it has completed the previously announced plan to repurchase 5,270,845 shares of the Company’s common stock from KCK Ltd. The repurchase of these shares allowed for the organized sale by KCK Ltd.
of all remaining shares it held in the Company. NeuroPace funded the repurchase of these shares using a portion of the proceeds from its recent underwritten public offering. NeuroPace also strengthened its balance sheet following the closing of the
public offering, which the Company now anticipates will be sufficient to support its planned operations until achieving cash flow breakeven. Additionally, the Company terminated its current at-the-market (ATM) offering program.
“We are pleased by the interest in our recent financing and the
confidence it shows in our mission to transform the lives of people suffering from drug-resistant epilepsy through RNS® therapy. We are also excited to have a strong group of investors join
NeuroPace as part of our recent financing,” said Joel Becker, Chief Executive Officer of NeuroPace. “We would also like to thank KCK Ltd. for their support of NeuroPace over the years.”
“The remaining proceeds from our recent financing further strengthened our balance sheet and our ability to execute the long-range plan we presented at
our investor day held last month in New York City. Based on this plan, we believe that we have sufficient cash runway to achieve cash flow breakeven,” added Mr. Becker.
About NeuroPace, Inc.
Based in Mountain View, Calif.,
NeuroPace is a medical device company focused on transforming the lives of people living with epilepsy by reducing or eliminating the occurrence of debilitating seizures. Its novel and differentiated RNS System is the first and only commercially
available, brain-responsive platform that delivers personalized, real-time treatment at the seizure source. This platform can drive a better standard of care for patients living with drug-resistant epilepsy and has the potential to offer a more
personalized solution and improved outcomes to the large population of patients suffering from other brain disorders.
Forward-Looking Statements
This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,”
“intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will” and variations of these words or similar expressions that are intended to identify forward-looking statements,
although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements regarding: NeuroPace’s cash runway, use of its capital resources and its ability to
execute its long-range plan or achieve cashflow break even. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including: actual
operating results may differ significantly from any guidance provided; risks related to NeuroPace’s use of its capital resources; uncertainties related to market acceptance and adoption of NeuroPace’s RNS System and impacts to
NeuroPace’s revenue for 2025 and in the future; risks that NeuroPace’s operating expenses could be higher than anticipated and that the Company’s gross margin may be lower than forecast; risks related to the pricing of the RNS System
and availability of adequate reimbursement for the
