VertiFlex raised $15 million in a new round of debt financing, according to an SEC filing posted today.
Money in the round came from 6 unnamed sources, according to the filing, and includes $148,999 in funds which will be available upon the exercise of warrants.
San Clemente, Calif.-based VertiFlex has not yet announced how it plans to spend funds raised during the round.
The company produces the Superion interspinous spacer, which won pre-market approval from the FDA last May.
The Superion device is designed to be implanted in the spine with a minimally invasive procedure to relieve spinal stenosis, a narrowing of the spine, which can put pressure on spinal nerves. The condition, which is often associated with aging, can cause pain, numbness and loss of certain motor function.
In January, Vertiflex said it raised nearly $27 million in an equity and options offering. The company said the round consisted of $10.5 million in new cash, a $16.2 million debt conversion and another $105,000 in warrants. Eight unnamed investors participated.
VertiFlex also makes the Totalis direct decompression system. The company raised nearly $5 million last summer.