Surgalign Holdings, Inc. (SRGA) experienced a decrease of 29.91% in the aftermarket because the company announced the pricing of a $20 million public offering. However, the last trading session closed at $0.60 with a decrease of 4.99%.
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Pricing of $20 Million Public Offering
On 10th February 2022, SRGA reported that the company has announced the pricing of a $20 Million public offering. Moreover, each entire warrant is instantaneously exercisable at a $0.60 per share exercise price and will lapse five years after the issue date. Surgalign is the only company selling securities in the offering. The offering is scheduled to close on or around February 15, 2022, subject to normal closing conditions being met.
FDA Clearance for HOLO Portal System – What’s up?
SRGA reported on 18th January 2022 that its HOLO Portal surgical guidance system has been approved by the US Food and Drug Administration (FDA). It can be used in lumbar spine surgeries. Moreover, Surgalign’s HOLO AI healthcare technology platform’s first clinical application is the HOLO Portal system, which is the world’s first artificial intelligence (AI)-driven augmented reality (AR) guidance mechanism for the spine.
Due to autonomous preoperative treatment and intraoperative guidance, the company believes that the technology has the ability to change lives and minimize operative time. Because of the increased visibility, the technology depicts the anatomy in 3D, resulting in reduced tissue damage during the surgical operation. Furthermore, when physicians use HOLO, they will immediately understand how they can use technology in the operating room and beyond to provide better treatment. Not only this but, surgeons will rapidly see how they can use technology in the surgery room and elsewhere to provide better care.
What’s Next?
HOLO Portal is the first significant breakthrough the company has ever seen in the years of adopting digital technology in practice. Moreover, the system’s groundbreaking combination of AR and AI will help me make better surgical decisions for the patients, resulting in more effective and precise care in the operating room. Receiving initial certification for the HOLO Portal system is a key step toward laying the groundwork for future digital surgery. Lastly, the company feels that this technology is genuinely groundbreaking because it is designed to improve patient outcomes by giving intelligent solutions to the customers.
