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Monogram Orthopaedics Inc ( (MGRM) ) has provided an update.
Monogram Technologies Inc. has increased its continuous offering of units, which include shares of its 8.00% Series D Convertible Cumulative Preferred Stock and warrants to purchase common stock, from $10 million to $12.5 million. The offering, which is subject to customary closing conditions, is expected to close subscriptions soon. The proceeds are intended for general corporate purposes, including new technology development and potential acquisitions, to further Monogram’s mission in the orthopedic surgery market. The preferred stock and warrants are immediately separable and will be issued and tradeable separately but are sold together as units in this offering.
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