Velano Vascular, Inc. announced that it expects to receive $22.668738 million in funding from a group of investors

Velano Vascular, Inc. announced that it will issue 2,093,955 series B preferred shares at issue price of $10.8258 per share for the gross proceeds $22,668,738.04 in funding on January 12, 2017. The shares are convertible, non-redeemable and cumulative. The shares carry dividend rate of 6% per annum.

. The shares will be convertible in common shares at a price of $10.8258 per share. The round will be raised at post money valuation of $68,295,383.