Change: offered +0% / raised +5% / placed 40%
Cardinal Spine reported in a document filed with the SEC that its $1.25 million equity offering is 40% subscribed as of May 30th 2014. Prior investors ponied up an additional $25,000. They had previously subscribed to $475,000 in securities according to another filing disclosed a few days ago. So far, twelve backers committed $500,000 to Cardinal Spine’s offering. The offering is structured as indefinite and will remain open until fully subscribed.
Cardinal Spine commercializes and designs a patented spinal implant and its method of use. The device is designed to optimize the post-surgical environment for enhanced fusion of the bone.
The company is headquartered in Louisville KY. Cardinal Spine disclosed having revenues on or below $1 million.
The executive team includes Frank P Castro.
Status: Intermediary close
Company: Cardinal Spine
Industry: Other Health Care
Amount offered: $1.25 million
Amount placed: $500,000
First sale: 06-27-2013
Data as of: 05-30-2014