Mainstay Medical announces € 30 million fundraising
Dublin, Ireland: 17 June 2016 - Mainstay Medical International plc (Euronext Paris: MSTY.PA and ESM of the Irish Stock Exchange: MSTY.IE), a medical device company focused on bringing to market ReActiv8®, an implantable neurostimulation system to treat disabling Chronic Low Back Pain, announces today that it has raised gross proceeds of € 30 million through a placement of 2,307,694 new ordinary shares with a nominal value of € 0.001 each in the Company with new and existing shareholders.
The Placing Shares will be issued to selected institutional investors in Europe and in North America and a small number of individual investors in Europe, at a price of € 13.00 per share. KCK Ltd is participating as cornerstone investor in the Placing, subscribing for 1,153,846 Placing Shares, representing approximately 50% of the total number of Placing Shares, for an amount of approximately € 15 million. KCK is a family investment fund that invests in a diverse set of industries, including medical technologies.
More info on Mainstay Medical's website.
Next > Diagenode secures € 7.5 million in financing
Previous > TROD Medical’s Prostate Focal Therapy Device EncageTM Advances in US and UK Clinical Studies