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Conformis secures funding via private placement and term loan

Executive Summary

Conformis Inc. (developer of the iFit image-to-implant technology) grossed $3mm in a private placement of 775k common shares at $3.87 each (an 11% discount) to Innovatus Capital. The company also secured up to $30mm in debt financing consisting of a $20mm five-year term loan with Innovatus having an interest-only period of four years, and a $10mm revolver line of credit with East West Bank based on the accounts receivable borrowing base. Proceeds from the debt financing will help Conformis pay off a $15mm term loan from Oxford Finance.
Deal Industry
  • Medical Devices
    • Implantable Devices
    • Surgical Equipment & Devices
      • Minimally or Less Invasive
Deal Status
  • Final
Deal Type
  • Financing
    • Nonconvertible Debt
    • Private Placement
    • Private Investment in Public Equity

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