Thrombolex filed an amendment to its SEC Form D to reveal that the company sold nearly $10 million in a debt offering.
The New Britain, Pa.-based company made the first sale in the offering of debt and convertible promissory notes on April 6, 2017. No issuer size was disclosed for the offering, which included contributions from 33 different investors, according to the SEC filing.
While the total offering amount was listed as indefinite, Thrombolex clarified that the offering amount was subject to increase or decrease at the discretion of the company, which confirmed that the offering has been completed with more than $9.8 million sold.
Thrombolex did not disclose what it intends to do with the proceeds, although the company did confirm that none of the money will be used for payments to executive officers, directors or promoters.
The company develops the FDA-cleared Bashir endovascular interventional catheters that are designed to rapidly create multiple channels so a patient’s endogenous lytics can flow into the culprit thrombus.
Bashir is designed to form a large central channel for blood flow through a clot, create a series of cross-sectional channels through the occlusive thrombus so that the clot can be dissolved, and permit fluids to saturate the clot to enhance the therapy’s efficiency, according to the company’s website.