Startup spinal implant company Carlsmed filed an SEC Form D this week to confirm the sale of more than $12.6 million.
The La Jolla, Calif.-based company confirmed that the new notice offering sold $12,634,480 in equity and securities/warrants/rights to acquire securities, leaving just $9,375 to be sold in the total offering.
Carlsmed made the first sale in the offering on Dec. 15 and, to date, has received participation from 50 investors with no minimum investment requirement. The company confirmed that the offering is not being made in connection with a business combination transaction.
The company did not list an intended use of proceeds for the fundraising, but will likely put it toward the continued development of its technology that uses AI and predictive analytics to personalize adult spinal deformities treatment.