Atlas Spine plans to raise money through OfferBoard Securities in Series B financing.
Here are five key notes:
1. Atlas Spine plans to raise $5 million through OfferBoard Securities.
2. The money raised will be used to further Atlas Spine's business and monetize, through a licensing and royalty model, the company's patented portfolio of spinal implant systems.
3. Atlas Spine has seven patented products and 28 patents in development related to back pain, boosting patient outcomes and reducing recovery time.
4. Since its inception, Atlas Spine has raised $8.5 million and an existing investor has committed $1.5 million of the round.
5. The minimum investment from accredited investors is $25,000.
Atlas Spine has received FDA approval for products and the company is looking to take the licensing and royalty model instead of building and going to market using traditional channels like hospitals, stock distributors and surgeons. As a result, the company will have greater margins, a lower overhead cost structure and the ability to partner with key industry players.