Amedica Prices $11 Million Public Offering
Amedica (AMDA) priced an underwritten public offering for gross proceeds of US $11MM, prior to various deductions (e.g., underwriting discounts, commissions and offering expenses). Closing is expected to occur by 7/8/16.
Net proceeds will support R&D/clinical trials, commercialization of product candidates, sales/marketing distribution of silicon nitride products, repayment of notes, etc.
The offering comprises Class A and B Units, priced at $1.00 and $1,000 per unit, respectively. A total of 3,608,000 shares of common stock, 7,392 shares of preferred stock convertible into 7,392,000 shares of common stock and warrants to purchase 11,000,000 shares of common stock will be issued.
AMDA is awaiting approval from FDA to commence U.S. marketing its composite silicon nitride spinal interbody device.
Sources: Amedica Corporation press release, Form S-1 on SEC.gov; ORTHOWORLD Inc.