AUSTIN, Texas, May 17, 2023 (ACCESSWIRE) — Monogram Orthopaedics Inc., a leader in developing patient-optimized, 3D-printed orthopedic implants enabled by robotics with advanced pre-operative imaging, today announced it raised $17,216,147 through the sale of 2,374,641 shares of its Class A Common Stock priced at $7.25 per share. Monogram expects the stock to begin trading on NASDAQ under the ticker symbol “MGRM” on May 18, 2023.
“I would like to thank the 22,000 individual investors that have believed in our company and helped us along our journey. Looking ahead, we believe that advances in technology will usher in a new way of thinking about reconstructive joint procedures and orthopedic implants, with Monogram well positioned to capitalize on an evolving industry. I am excited about the opportunity ahead of us as we transition to a public company,” said Benjamin Sexson, Chief Executive Officer of Monogram Orthopaedics Inc.
Digital Offering, LLC, acted as the lead managing selling agent, along with R.F. Lafferty as syndicate manager for the offering. Cambria Capital, LLC, DealMaker Securities and OpenDeal Broker LLC participated as selling group members. CrowdCheck Law LLP acted as counsel to Monogram Orthopaedics and Bevilacqua PLLC acted as counsel for the managing selling agent.
“As pioneers in Regulation A+ and the JOBS Act for years, having developed a methodology that allows companies to reach a diverse audience of investors and trade on a National Securities Exchange, we are thrilled to be a part of this historic moment as Monogram leads us into exciting new territory. Companies that utilize Regulation A+ for their initial capital raises can graduate to National Securities Exchanges to access the capital markets while providing liquidity to the initial supporters and investors,” said Mark Elenowitz, Managing Director of Digital Offering.
ABOUT MONOGRAM ORTHOPEDICS
Monogram Orthopaedics is working to develop a product solution architecture with the long-term goal of enabling patient-optimized orthopedic implants at scale by linking 3D printing and robotics with advanced pre-operative imaging. The Company has a robot prototype that can autonomously execute optimized paths for high precision insertion of implants in synthetic bone specimens. Monogram intends to produce and market robotic surgical equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation necessary for reconstructive joint replacement procedures. The Company has not yet made 510(k) premarket notification submissions or obtained 510(k) clearances for any of its robotic products. FDA approval is required to market these products, and the Company has not obtained FDA approval for any of its robotic products, and it cannot estimate the timing, or assure the ability, to obtain such clearances.
Michael Kim/Brooks Hamilton
MZ North America