Sophono disclosed selling 49% of its $1.01 million non-brokered financing round to one investor. According to the filing, $500,000 worth of equity was subscribed almost two weeks ago. The offering will remain open until April 2015 while an additional $511,000 worth of securities is sold to investors. Two previous unregistered financing rounds raised an estimated $8.02 million. The company is backed by CID4 and Wexford Capital.
The company is a medical device manufacturer specializing in abutment-free, implantable, bone conduction hearing systems. The company’s technology enables the maximum transfer of energy from the sound processor through the skin to the magnetic implant, allowing for amplified bone conduction sound to improve hearing in patients with conductive, mixed hearing loss and single-ear deafness.
The company is headquartered in Boulder CO. Sophono elected to keep its revenues undisclosed.
The executive team includes Markus Haller and Peter Ruppersberg.
The board of directors includes Mark Zand and Paul Mieyal.
The company has raised an estimated total of $8.52 million via private unregistered security offerings.
Status: First close
Industry: Other Health Care
Amount offered: $1.01 million
Amount placed: $500,000
First sale: 04-04-2014
Data as of: 04-17-2014