ALung Technologies filed an SEC Form D to confirm the sale of $2 million in debt, options, warrants and other rights to purchase securities.
The Pittsburgh-based company made its first sale in the new notice on May 20 and reached its offering total of $2 million by June 1. Just one investor participated in the offering.
According to the filing, the offering is not being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer. The company did not offer an intended use of proceeds.
ALung develops the Hemolung respiratory assist system, which uses ECCO₂R therapy to allow carbon dioxide to be removed from the blood independently of the lungs in an effort to facilitate the avoidance or reduction of intubation and invasive mechanical ventilation.