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AUSTIN, Texas - Monogram Technologies Inc. (NASDAQ:MGRM) announced Tuesday the mandatory conversion of all outstanding shares of its 8.00% Series D Convertible Cumulative Preferred Stock.
The AI-driven robotics company, which focuses on orthopedic surgery, triggered the conversion after its common stock closed at or above $2.8125 per share for ten consecutive trading days through July 7, 2025.
The company notified holders of the Series D Preferred Stock that the conversion will become effective July 14, 2025, in accordance with the Certificate of Designation of Preferences, Rights and Limitations.
The Series D Preferred Stock was originally issued during an offering that closed on October 1, 2024. That offering consisted of units combining one share of Series D Preferred Stock with one common stock purchase warrant.
Monogram Technologies develops AI-driven robotic surgical systems for orthopedic procedures, specifically its mBôs precision robotic surgical system designed for knee replacements. The company has received FDA 510(k) clearance for its mBôs TKA System and FDA clearance for its mPress implants.
The announcement was made in a company press release.
In other recent news, Monogram Orthopaedics reported its first-quarter financial results for 2025, highlighting a significant improvement in financial health and strategic milestones. The company announced an earnings per share forecast of -0.11, although no actual EPS data was provided. Monogram Orthopaedics received FDA clearance for its Emboss total TKA robotic surgical system, a key regulatory achievement. The company plans to begin live patient surgeries by summer or early fall of 2025. Monogram maintains a strong cash position of $13.3 million and has reduced its monthly cash burn to $800,000 from last year’s range of $1.1 million to $1.2 million. The company has no traditional debt, which positions it well for future growth. Additionally, Monogram is preparing for a pilot launch in the United States and plans to conduct a multicenter clinical trial in India. These developments reflect Monogram’s strategic focus on expanding its presence in the orthopedic robotics market.
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