Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Mako Surgical gets $60 million: Robotic knee surgery device maker Mako Surgical inks $60 million private placement financing deal, providing it with $40 million up front and an additional $20 million by the end of 2009, contingent upon certain milestones, the company announces Oct. 29. The funds will support Mako's planned launch in the first half of 2009 of its Tactile Guidance System version 2.0 for robotic knee resurfacing procedures and its Mako-branded bi-compartmental knee implant, the company says. Some of the proceeds also will go toward R&D and working capital, according to the firm. The financing round was led by Montreux Equity Partners and Skyline Ventures. Based in Ft. Lauderdale, Fla., Mako went public in February 2008, netting $43.7 million through its offering of 5.1 million shares at $10 each. The IPO funds also were earmarked for development of The Tactile Guidance System, which previously was referred to as the Haptic Guidance System (1"The Gray Sheet" Oct. 22, 2007, p. 17)