Amedica Corporation Completes $30 MM Financing to Expand Market Share of Proprietary Silicon Nitride Ceramic (press release)
Amedica Corporation, a spinal and reconstructive implant manufacturer focused on its medical grade silicon nitride ceramic material, today announced the completion of its $30 million Senior Secured Subordinated Convertible Notes financing. This financing, which began in 2011, has now been fully funded with the receipt of the final $5,000,000 investment.
The proceeds from this financing will be used for further development and distribution of its novel ceramic materials in the orthopedic, spine and dental markets. The proceeds will also be used for payments on debt arising from the US spine acquisition, and working capital and other corporate purposes.
"We're very pleased to complete this growth financing as it allows us to rapidly increase our sales and marketing strategy," says Eric Olson President and CEO. "With this new capital and the competitive advantage of our silicon nitride technology, we'll continue to expand into new markets, grow our existing businesses and fully leverage our partnership with our worldwide network of independent distributors. ...
