SpinalMotion closes 4th tranche of $15M round | Wall Street Beat

January 23, 2013 by MassDevice staff

Medical device company SpinalMotion closes the 4th and final round of a $15 million debt offering for its spinal implants.

MassDevice.com Wall Street Beat

SpinalMotion closed the final tranche of a $15 million funding round that began in June 2011, according to a regulatory filing.

The Mountain View, Calif.-based medical device company raised a total of $15.1 million in the offering of debt, options and warrants from 15 unnamed investors, according to the filing.

The first tranche of $7.7 million closed June 2, 2011, according to the SEC filing. A 2nd, $3.0 million round closed April 17, 2012; a 3rd round worth $2.8 million closed Sept. 6, 2012; and the final, $1.5 million round closing Jan. 11 of this year.

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SpinalMotion won CE Mark approval in the European Union for a pair of its Kineflex cervical disc implants in March 2012.