MAKO Surgical (implants for minimally invasive orthopedic procedures) announced a private placement that could bring in $60mm.
The company initially grossed $40mm through the sale of 6.45mm common shares at $6.20 each (a 9% discount) to lead and first-time investors Montreux Equity Partners and Skyline Ventures, which each add a representative to the board. Other new backer Alta Partners was joined by returning shareholders Ziegler Meditech Equity Partners, MK Investment Company, Lumira Capital, Aperture Venture Partners, and two company board members. MAKO also issued seven-year warrants to buy another 1.29mm shares exercisable at $7.44. The company could bring in another $20mm by the end of 2009 if certain milestones are met.
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