Monogram is a medical device company that develops joint reconstruction products. It has focused its efforts thus far on knee replacements, but sees possible applications for its technology in hip replacements as well in the future. The company is raising a maximum $30M Series B Preferred round at a $75 million pre-money valuation ($6.27 per share, excluding the effect of bonus shares). Investors who take advantage of all available bonus shares will invest at an effective $5.70 per share. Monogram intends to use these funds primarily to advance product development, fund its 501(k) pre-market submission of the total knee and robotic system, and fund employee costs. While Monogram expects to generate revenue in 2021 by acting as a wholesale distributor of generic implants from other manufacturers, its success as an investment will come from its ability to develop and commercialize its proprietary implant and robot.
