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Medtech plans to conduct $15 million private placement of convertibles
Deal sells convertible notes due 2020, warrants to Ally Bridge Group
By Devika Patel
Knoxville, Tenn., Nov. 3 – Medtech SA said it plans a $15 million private placement of 2% convertible notes due 2020 and warrants with Ally Bridge Group.
The investor will receive 0.4 warrants per note, with each warrant exercisable at €32.83.
Proceeds will be used for the development of ROSA Brain and ROSA Spine, the company's two major products, as well as general corporate purposes, which may include working capital, continued investment in geographic expansion, research and development, and strategic business development opportunities.
The Montpellier, France, company makes and sells surgical assistance robots.
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