Mainstay Medical (EPA:MSTY) said yesterday it raised $15 million in a debt financing round to help fund its ReActiv8 implantable device for individuals with chronic low back pain. The debt facility came from IPF Partners, according to Dublin, Ireland-based Mainstay. “We are pleased to have secured this $15 million debt facility. These funds strengthen our financial […]
Mainstay Medical is preparing an initial public offering on the EuroNext stock exchange that could be worth up to $42 million, according to a regulatory filing.
Mainstay, which last month launched a new clinical trial of its ReActiv8 implantable neurostimulator for chronic lower back pain, said it plans to offer some 1.1 million shares at €20-€27 per share, or about $27.77 to $37.50 per share.
Dublin-based Mainstay Medical touted the launch of a new clinical trial evaluating its ReActiv8 implantable neurostimulator at 3 clinical sites in Australia.