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MRI Interventions brings in $13.25mm through PIPE

Executive Summary

MRI Interventions Inc. (MRI-guided devices used in minimally invasive neurological and cardiovascular surgeries) grossed $13.25mm through the sale of 6.625mm units at $2.00 (a 68% discount). Each unit consists of one common share and a five-year warrant to purchase one common share at $2.20. Joseph Gunnar was the lead placement agent, with Brookline Capital Markets (a division of CIM Securities,) as the co-placement agent. The company will use part of the proceeds to help fund co-development agreements signed last month with both Mayo Clinic (for an MRI-guided device for intra cerebral hemorrhage) and Acoustic MedSystems (for an MRI-guided ultrasonic ablation system for pancreatic cancer).
Deal Industry
  • Medical Devices
    • Diagnostic Imaging Equipment & Supplies
      • MRI, NMR
    • Surgical Equipment & Devices
      • Minimally or Less Invasive
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement

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