SpineGuard completed another round of equity totaling $3.1 million.
Here are five things to know:
1. The company completed an equity round recently, issuing new shares to named investors. The transaction was completed shortly after a larger private placement with institutional investors was announced on June 4.
2. The private placement represents 177,300 new shares, or 4 percent of the issued shares. The placement settlement takes place today.
3. The total number of new shares created in the two private placements in June equal 487,900, or 10.9 percent of the issued shares.
4. The company cancelled its public offering on June 4 due to adverse market conditions. But the company was able to serve most of the subscription demands received.
5. The equity rounds have extended the scope of SpineGuard's Dynamic Surgical Guidance technology platform, including the launch of the company's first "smart screw" for spine surgery.