Trice Medical filed an SEC Form D to confirm the sale of more than $10.2 million in an offering of debt and other options to purchase securities.
The first sale in the new notice offering was made on March 30, 2021, with the company intending for the offering to last for less than one year, according to the filing.
Malvern, Pa.-based Trice Medical is offering $11 million in debt, options, warrants or other rights to purchase securities, leaving just $771,865 left to be sold after 22 investors contributed to the more than $10.2 million already raised.
The funds from the offering were used in connection with a merger with Tenex Health, a wholly-owned subsidiary of Trice, having completed a merger on April 1. Approximately $500,000 of the funds raised will be used as payments to executives, directors and/or promoters.
Trice Medical develops the Mi-eye 2 and Mi-ultra orthopedic diagnostic devices.