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Monogram Technologies Inc. (NASDAQ:MGRM), whose stock has surged over 13% in the past week and is currently trading near its 52-week high at $5.87, announced the termination of its Exclusive License Agreement with the Icahn School of Medicine at Mount Sinai, according to a press release statement filed with the SEC. According to InvestingPro data, the company’s stock has demonstrated strong momentum with a 45% return over the past year. The agreement, originally signed on October 3, 2017 and amended as recently as May 31, 2023, was formally terminated as of July 10, 2025.
Under the terms of the termination, all rights and licenses Monogram previously held to certain intellectual property from Mount Sinai have reverted to Mount Sinai. As part of the settlement, Monogram will make a total payment of $4,000,000 to Mount Sinai. The company appears well-positioned to handle this payment, as InvestingPro analysis shows it maintains a healthy current ratio of 7.0, indicating strong short-term liquidity, and holds more cash than debt on its balance sheet. This payment consists of $500,000 in cash and 35,000 shares of newly created Series E Redeemable Perpetual Preferred Stock, which carries an aggregate liquidation preference of $3,500,000.
The Series E Preferred Stock was established on July 11, 2025, following approval and filing of a Certificate of Designation with the Secretary of State of Delaware. The preferred stock ranks senior to Monogram’s common stock and pari passu with its 8.00% Series D Convertible Cumulative Preferred Stock in liquidation scenarios. Holders of the Series E Preferred Stock do not have voting rights.
The Series E Preferred Stock will be subject to redemption by Monogram if certain events occur, such as the company raising at least $25 million in gross proceeds from securities offerings, or if an entity acquires 40% or more of Monogram’s voting securities. If Monogram raises between $10 million and $25 million in such offerings, 15% of the proceeds above $10 million will be used to redeem the preferred shares on a pro rata basis.
Beginning July 1, 2026, holders of the Series E Preferred Stock may convert their shares into Monogram common stock and will be entitled to cumulative dividends at an annual rate of 10% of the liquidation preference per share.
The issuance of the Series E Preferred Stock and any shares of common stock issuable upon conversion were made in reliance on exemptions from registration under the Securities Act of 1933.
This information is based on a press release statement filed with the Securities and Exchange Commission. With a market capitalization of $117.4 million and trading at a Price/Book ratio of 10.05, investors seeking deeper insights into Monogram’s valuation and growth prospects can access comprehensive analysis through InvestingPro, which offers exclusive access to over 10 additional real-time ProTips and detailed financial metrics for informed decision-making.
In other recent news, Zimmer Biomet has announced a definitive agreement to acquire Monogram Technologies for approximately $177 million. The acquisition will involve a cash payment of $4.04 per share and includes a non-tradeable contingent value right that could offer Monogram stockholders up to an additional $12.37 per share if certain milestones are met by 2030. This strategic move aims to enhance Zimmer Biomet’s ROSA Robotics platform with Monogram’s semi- and fully autonomous robotic technologies. Monogram recently received FDA clearance for its AI-navigated total knee arthroplasty robotic technology, which is expected to be commercialized in 2027. The boards of both companies have unanimously approved the deal, which is pending regulatory and stockholder approvals, with an anticipated closure later this year. Additionally, Monogram has announced the mandatory conversion of its Series D Convertible Cumulative Preferred Stock, following a sustained increase in its common stock price. In its first-quarter financial results for 2025, Monogram reported an earnings per share forecast of -0.11 and a strong cash position of $13.3 million, with no traditional debt. The company has also reduced its monthly cash burn and is preparing for the commercial launch of its robotic surgical system.
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