Monogram Orthopaedics (NASDAQ:MGRM) aw its shares trade on Nasdaq following private security offering under Reg A+ – an exemption that allows retail investors to back a private firm. The offering was facilitated by DealMaker, a platform, and broker-dealer specializing in private securities and Republic, which helped raise $232,275.
Digital Offering, LLC acted as the lead managing agent in the securities offering in what was a collaborative effort to raise funds for the company.
Monogram Orthopaedics raised $17,216,147 through the sale of 2,374,641 shares of its common shares that began trading on NASDAQ on May 18, 2023.
Monogram noted that it received the backing of 22,000 individual investors in the securities offering.
In a recent statement, Rebecca Kacaba, DealMaker co-founder and CEO, said that many institutional investors are reluctant to enter into the equity crowdfunding space, assuming there is no path to liquidity.
“We’ve seen issuers adopt another path to raising capital: Reg CF to Reg A, then Reg A to public listing. It’s a great supplement to the traditional capital markets process.”
Monogram is a provider of 3D-printed orthopedic implants that utilize robotics. Their vision is to benefit from the next generation of personalized implants and to make surgical robotics ubiquitous.
Currently, venture markets have retrenched due to a challenging economy and rising interest rates. Some observers believe that online capital formation platforms that cater to both accredited and non-accredited investors, are well positioned to step in and provide access to capital.
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