SS Innovations International (SSII) has released an update.
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On February 14, 2024, a company raised $1 million by issuing 7% Convertible One-Year Promissory Notes to two investors, with the option to convert them into common stock at $4.45 per share. The company also granted its CEO, Dr. Sudhir Srivastava, an option to purchase over 3.35 million shares at $5.00 each, under the 2016 Incentive Stock Plan, which vested immediately and can be exercised over a five-year period. These moves aim to bolster the company’s financial position and incentivize its leadership.
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