Monogram Orthopedics Plans NASDAQ Listing After Reg A+ Funding Round Concludes The company is now concluding its Reg A+ funding round and will continue with plans for a planned NASDAQ listing under the ticker symbol MGRM.
Austin, TX
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May 09, 2023 10:58 AM Eastern Daylight Time
Monogram Orthopedics will conclude their Reg A+ funding round in preparation for their planned Nasdaq listing under the reserved ticker symbol “MGRM.” Monogram is working to develop patient-optimized, 3D-printed orthopedic implants enabled by robotics with advanced pre-operative imaging.
Investors who wish to participate in the offering can subscribe at Monogram Orthopedics |Reg A+ Investment and hit the invest now button after reviewing the Company’s offering documents. The ability to subscribe to the offering on the Company’s site will conclude on May 10, 2023.
Approximately 1.7 million patients receive knee replacement surgeries each year, but up to 20% experience chronic pain after the procedure. In addition, 40% of total knee replacement revision surgeries are caused by mechanical loosening, showing a need to improve knee implants for better fixation.
Because of this, one-in-five patients report high levels of dissatisfaction after their procedure, with over a third of patients (36%) reporting they wouldn’t choose to have the procedure if they could do it again.
Monogram Orthopedics plans to address these issues by 3D-printing FDA-approved implants tailored to each patient's unique anatomy. They are developing low-latency active-milling robots to make the precise cuts needed for custom implants, which aims to reduce the number of incisions and bone loss during surgery.
“By 2027 50% of knee replacement surgeries will be performed robotically. Monogram is currently the only company offering FDA-approved, 3D printed, patient-specific implants that, in the future, will be inserted with active milling robots,” Benjamin Sexson, CEO of Monogram Orthopedics said. “With the coming close of our current Reg A+ funding round we are happily looking forward to our planned public listing. We imagine our investors will be just as excited as we are to one day see ‘MRGM’ scrolling on the ticker outside the NASDAQ exchange’s building in Times Square,” he added.
“Having been a critical part of the Monogram development and heavily involved in building the formative technology as the Company's longest-tenured employee, I can say on behalf of myself and my colleagues that this planned listing will be a tremendous accomplishment. It has been an honor to help push this engineering effort and to have had the opportunity to play such a critical role in developing this transformative product.” Sanath Vurelli, Senior Robotics Engineer, at Monogram Orthopedics said.
The company recently demonstrated a total knee replacement surgery by a surgeon operating in New York City on a cadaver patient in Austin, Texas. Their 3D-printed replacement’s patented design facilitates a bone-to-implant bond so they do not rely on bone cement.
ABOUT MONOGRAM ORTHOPEDICS
Monogram Orthopedics is working to develop a product solution architecture with the long-term goal to enable 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.
Monogram Orthopedics changing the way orthopedic surgery is done. Our system combines personalized knee implants with precision robotic surgical assistants, giving patients a better-fitting knee replacement with minimally invasive surgery. 100,000 knee replacements failing each year in a $19.4B market, represents an enormous opportunity for us.
This press release may include ''forward-looking statements.'' To the extent that the information presented in this presentation discusses financial projections, information, or expectations about Monogram Orthopedics Inc.’s business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.''
Although Monogram Orthopedics Inc. believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the offering statement filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Monogram Orthopedics Inc. does not undertake any duty to update any forward-looking statements except as may be required by law.
The offering will be made only by means of an offering circular. An offering statement on Form 1-A relating to these securities has been filed with the U.S. Securities and Exchange Commission and has become qualified. The securities offered by Monogram are highly speculative. Investing in shares of Monogram involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the securities, and if a public market develops following the offering, it may not continue.
Monogram intends to list its securities on a national exchange and doing so entails significant ongoing corporate obligations including but not limited to disclosure, filing and notification requirements, as well compliance with applicable continued quantitative and qualitative listing standards. For additional information on Monogram, the offering and any other related topics, please review the Form 1-A offering circular that can be found at the following location EDGAR Entity Landing Page (sec.gov). Additional information concerning Risk Factors related to the offering, including those related to the business, government regulations, intellectual property and the offering in general, can be found in the risk factor section of the Form 1-A offering circular: https://www.sec.gov/Archives/edgar/data/1769759/000110465923024829/tm237645d1_partiiandiii.htm
DealMaker Securities, LLC is being compensated a 4% commission from the lead Selling Agent engaged by Monogram Orthopedics Inc. The Company has engaged Digital Offering, LLC (“Digital Offering”) to act as lead selling agent (which we sometimes refer to as the “Selling Agent”) to offer the shares of our common stock, par value $0.001 (the “Common Stock”) to prospective investors in this offering on a “best efforts” basis, which means that there is no guarantee that any minimum amount will be received by the Company in this offering. The Company will pay a cash commission of 7.00% to Digital Offering on sales of the shares of Common Stock. See “Plan of Distribution” in the Offering Circular for details of compensation payable to the Selling Agent in connection with the offering. DealMaker Securities, LLC is not affiliated with other companies mentioned herein.
Contact Details
Monogram Orthopedics
Loreana Davi
+1 512-790-5151
Company Website
