A $3.9 million unregistered equity financing by Consano Medical successfully drew to a close. The brokered investment round was placed among nine investors. The subscription started a little over a week ago. The private placement’s expected net proceeds amounts to $3.63 million which excludes $273,000 paid in brokerage fees. No offering was previously initiated by the company under a registration exemption with the SEC.
Consano Medical designs and markets minimally-invasive intelligent monitoring devices. The company’s first product, the Canary Catheter monitoring device, detects subtle changes in several physiological parameters: core body temperature, respiratory rate, heart rate, intra-abdominal pressure, and relative cardiac output. Tracking these changes may allow for earlier diagnosis and optimal treatment according to the company.
Daniel Burnett (CEO) leads the San Francisco CA based company which was registered in 2012. Consano Medical elected to keep its revenues undisclosed.
Company: Consano Medical
Amount offered: $3.9 million
Amount placed: $3.9 million
First sale: 05-13-2014
Data as of: 05-23-2014