Monogram Technologies Launches Continuous Offering of 8.00% Convertible Preferred Stock and Warrants

AUSTIN, TX / ACCESSWIRE / July 9, 2024 / Monogram Technologies Inc. (NASDAQ:MGRM) ("Monogram" or the "Company"), an AI-driven robotics company focused on improving human health with an initial focus on orthopedic surgery, announced the launch of a continuous public offering of up to $10,000,000 of units at a public offering price of $2.25 (the "Public Offering"). Each unit consists of one share 8.00% Series D Redeemable Convertible Cumulative Preferred Stock and one warrant to purchase one share of common stock exercisable at $3.375 per share, which will result in net proceeds to the Company of approximately $9.25 million after payment of estimated commissions and offering expenses if all Units are sold.

The shares of the Series D Preferred Stock and the warrants are immediately separable and will be issued and tradeable separately, but will be purchased together. The Series D Preferred Stock pays a $0.18 per share per year dividend at an annual yield of approximately 8.00% and is convertible into one share of the Company's common stock for each share of the Series D Preferred Stock. The dividend is payable in cash or in-kind. The Company has the right to redeem the Series D Preferred Stock at a premium to the public offering price of the units, which declines over time from 200% down to 150% of the offering price. This Public Offering allows any suitable investor to log onto the Monogram Public Offering website at monogramtechnologies.com and with a click of a button, subscribe to the offering.

Digital Offering, LLC ("Digital Offering"), is acting as the sole lead managing selling agent for the Public Offering. The units are being offered by Digital Offering on a "reasonable best efforts" basis. There is no public market for either the Series D Preferred Stock or warrants and the Company does not intend to apply for a listing of either on any national securities exchange. Digital Offering is a member of FINRA and SIPC. The Company may terminate this Public Offering at any time.

"We are excited to offer our loyal followers and shareholders the opportunity to participate in a Unit offering typically reserved for Wall Street institutional investors," said Benjamin Sexson, CEO of Monogram Technologies, Inc.

The offering is being conducted as a public offering pursuant to the prospectus supplement dated July 9, 2024 and the accompanying prospectus dated June 3, 2024, which have been filed with the Securities and Exchange Commission ("SEC"). These documents contain this and other information about the Company, the Series D Preferred Stock, and the warrants and should be read carefully before investing. The information in the prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The prospectus supplement, the accompanying prospectus and this press release are not offers to sell these securities and are not soliciting an offer to buy these securities in any state where such offer or sale is not permitted.

A shelf registration statement relating to these securities is on file with and has been declared effective by the SEC. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained at monogramtechnologies.com or by visiting EDGAR on the SEC's website at:

https://www.sec.gov/Archives/edgar/data/1769759/000110465924078410/tm2418841d1_424b5.htm.

About Monogram Technologies Inc.

Monogram Technologies (NASDAQ:MGRM) is an AI-driven robotics company focused on improving human health, with an initial focus on orthopedic surgery. The Company is developing a product solution architecture to enable patient-optimized orthopedic implants at scale by combining 3D printing, advanced machine vision, AI and next-generation robotics.

Monograms mBôs precision robotic surgical system is designed to autonomously execute optimized paths for high-precision insertion of its FDA-cleared mPress press-fit implants. The goal is well balanced better-fitting bone sparing knee replacements. The Company initially intends to produce and market robotic surgical equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation necessary for reconstructive joint replacement procedures. Other clinical and commercial applications for the mBôs with mVision navigation are also being explored.

Monogram has obtained FDA clearance for mPress implants. Monogram currently plans to apply for 510(k) clearance for its robotic products in the second half of 2024. The Company is required to obtain FDA clearance before it can market its products. Monogram cannot estimate the timing or assure the ability to obtain such clearances.

The Company believes that its mBôs precision robotic surgical assistants, which combine AI and novel navigation methods (mVision), will enable more personalized knee implants for patients, resulting in well balanced better-fitting knee replacements with bone sparing implants. Monogram anticipates that there may be other clinical and commercial applications for its navigated mBôs precision robot and mVision navigation.

To learn more, visit monogramtechnologies.com.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. For example, the Company's statement regarding the Company's proposed use of net proceeds is a forward-looking statement. Forward-looking statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that the Company may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company's other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Investor Relations

Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
[email protected]

SOURCE: Monogram Technologies Inc.

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