Origami Surgical last week filed an SEC Form D to confirm the sale of more than $2.2 million in an equity offering.
The Madison, N.J.-based company, founded this year, filed a new notice for the sale of equity on March 23, 2020, with the intention of the offering lasting less than a year. According to the Form D filing, Origami Surgical’s offering is not being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer.
Two investors contributed to the sale of $2,224,998 in the equity offering that is set to bring in $2,499,996, leaving $274, 998 left to be sold.
Origami Surgical did not list an intended use of proceeds. The company develops the StitchKit, which it touts as the first suture system designed to improve endoscopic robotic surgery outcomes by increasing efficiency, autonomy and safety, according to the company website.
StitchKit is designed with a patented suture delivery and retrieval system so sutures are efficiently inserted and needles are safely removed from the surgical field.