Think Surgical, Inc. announced that it expects to receive $60 million in funding
On November 11, 2014, the transaction has been approved by the board of directors of Curexo Inc.
On November 17, 2014, the company has amended the terms of the transaction. The company now will issue 30,000,000 series C-1 preferred shares at a price of $4 per share for gross proceeds of $120,000,000 in the transaction. The shares carry non-cumulative, and participating fixed dividend value of $0.32 per share. The shares are non-redeemable. The shares will be convertible into common shares at a fixed conversion price of $4 per share.
On December 9, 2014, the company has issued 817,617 series C-1 preferred shares at $4 price per share for gross proceeds of $3,270,468 in its first tranche. The company had 46,586,495 shares outstanding before the transaction. The company had total liabilities of KRW 1,040,000,000 ($932,777); total stockholders' equity of KRW 9,842,000,000 ($8,827,300); capital of KRW 4,000,000 ($3,587.60); sales revenue of KRW 1,688,000,000 ($1,513,970); and net loss of KRW 13,651,000,000 ($12,243,600) on December 31, 2013. The conversion was made through www.oanda.com on November 25, 2014.
On October 29, 2016, the transaction will include participation from the existing shareholders of the company including Curexo Inc. The company will issue 0.2423643 new shares for every existing share in the company. The subscription period for the shares will commence and end on October 31, 2016 and November 16, 2016 respectively. The payment date for the shares is expected on December 9, 2016. The transaction was approved by the board of directors of Curexo Inc.
On November 16, 2016, the company announced that Curexo Inc will subscribe for 500,000 series C-1 preferred shares in the transaction. The company reported total assets of KRW 32,768,000,000 ($27,869,200), total liabilities of KRW 2,263,000,000 ($1,924,680), total capital of KRW 30,505,000,000 ($25,944,500), capital of KRW 6,000,000 ($5,103), sales of KRW 279,000,000 ($237,289), and net profit of KRW -25,518,000,000 ($-21,703,000) for the year ended December 31, 2015.
On December 2, 2016, the company has amended the terms of the transaction. The company now will issue 45,000,000 series C-1 preferred shares for gross proceeds of $180,000,000 in the transaction.