Medtronic dives deeper with $20M second tranche investment in Mazor Robotics: 6 takeaways

Megan Wood -   Print  |

Dublin, Ireland-based Medtronic completed its second tranche investment in Caesarea, Israel-based Mazor Robotics.

Here are six takeaways:

 

1. Mazor issued securities representing 3.4 percent of its issued and outstanding share capital on a fully diluted basis at a price per American Depositary Share $21.84.

 

2. The second tranche investment totals $20 million.

 

3. The announcement of Mazor X Surgical Assurance Platform on July 12 spurred Medtronic to complete this second tranche investment.

 

4. Medtronic has now purchased a total of 1.96 million ADS', accounting for 7.27 percent of Mazor's issued and outstanding share capital on a fully diluted basis. This totals $31.9 million.

 

5. As of June 20, Mazor's cash, cash equivalents and investments reached $47.5 million.

 

6. After the second equity investment, Mazor's cash, cash equivalents and investments will reach $65 million with a fully diluted share count of about 53.9 million.

 

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