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Surgalign Holdings, Inc. (Nasdaq: SRGA) announced a public offering of 25 million shares at $1.50 each, with an option for underwriters to purchase an additional 3.75 million shares. This offering, managed by Piper Sandler and Cantor, is expected to close on February 1, 2021, generating approximately $37.5 million in gross proceeds for general corporate use, including working capital and potential acquisitions. The registration statement was filed with the SEC and deemed effective on January 27, 2021.
Surgalign Holdings (Nasdaq: SRGA) announced the commercial launch of ViBone® Moldable, a next-generation cellular bone matrix product, which has successfully completed its first surgery in the US. Dr. Adam Crowl performed the first implantation at OrthoVirginia in Midlothian, VA. ViBone Moldable is designed to enhance spinal fusion, featuring a proprietary method that preserves native bone cells for improved bone formation. CEO Terry Rich expressed optimism about the product's potential to strengthen Surgalign’s biologics portfolio and facilitate business growth.
Surgalign Holdings, Inc. (Nasdaq: SRGA) will participate in the 23rd Annual ICR/Westwicke Conference on January 14, 2021. The management team's presentation is scheduled for 2:30 p.m. ET, with Chief Medical Officer Dr. Simineov joining a panel on digital surgery at 10:00 a.m. ET. A live webcast of both sessions will be accessible on the company's investor relations page, with a replay available for 90 days. Surgalign is focused on innovative spine surgery solutions, operating in over 50 countries worldwide.
On November 30, 2020, Surgalign Holdings, a global leader in spine innovation, announced its participation in the Piper Sandler 32nd Annual Virtual Healthcare Conference scheduled for December 3, 2020. The management team will present insights into their advancements in spine surgery aimed at improving patient outcomes. Following the event, a recorded presentation will be available on their investor relations page for approximately 90 days. Surgalign is committed to delivering innovative spine care solutions and operates in over 50 countries worldwide.
Surgalign Holdings (Nasdaq: SRGA) announced the appointment of Dr. Paul Lewicki to its board of directors. With this addition, the board now comprises nine members. Dr. Lewicki previously served as President of Holo Surgical and has extensive experience in artificial intelligence and predictive analytics in medicine. His background includes founding StatSoft, a data mining company acquired by Dell in 2014. The CEO, Terry Rich, expressed confidence in Dr. Lewicki's vision for advancing digital surgery.
Surgalign Holdings, Inc. (Nasdaq: SRGA) reported its Q3 2020 results, revealing total global spine revenue of $27.9 million, a decline from $28.7 million in Q3 2019. The net loss from continuing operations reached $26.7 million, higher than $17.0 million in the prior year. However, adjusted EBITDA improved to a loss of $6.3 million from $11.6 million year-over-year. The completion of the acquisition of Holo Surgical, Inc. and the ongoing transition to a distributed manufacturing model were noted as key strategic moves. Guidance for 2020 remains uncertain due to COVID-19.
Surgalign Holdings, Inc. (Nasdaq: SRGA) has announced that it will release its third-quarter 2020 financial results on November 11, 2020, after market close. The company will host a conference call at 4:30 p.m. ET, accessible via phone or through the investor section of its website. Additionally, Surgalign will hold a virtual investor day on November 12, 2020, from 1:00-3:00 p.m. ET. The company focuses on innovative spine care solutions and emphasizes its commitment to improving patient outcomes through technological advancements.
Surgalign Holdings, Inc. (Nasdaq: SRGA) has announced a delay in its third quarter 2020 earnings release and conference call due to the additional workload from the recent sale of its OEM business, now classified as discontinued operations. The earnings report is anticipated to be released during the week of November 9, 2020. A press release will follow with the new date and time for the call. This delay is attributed to completing financial statements.
Surgalign Holdings, Inc. (Nasdaq: SRGA) plans to release its third quarter 2020 earnings on November 6, 2020, prior to market open. The company will host a conference call at 9:00 a.m. ET that day to discuss financial results. Additionally, a virtual Investor Day is scheduled for November 12, 2020, showcasing the company's strategic focus on digital technologies in spine surgery. This event aims to enhance patient outcomes and provide insights into Surgalign's long-term strategy.
Surgalign Holdings (Nasdaq: SRGA) has successfully completed its acquisition of Holo Surgical Inc., enhancing its commitment to improving patient outcomes through digital surgery. The acquisition, valued at $30 million in cash and approximately $12 million in stock, could reach up to $83 million contingent on future milestones. This strategic move aims to position Surgalign as a leader in digital surgical technology in the spine sector. Notable personnel additions include Prof. Christian Luciano as head of digital R&D and Dr. Kris Siemionow as Chief Medical Officer, focused on the ARAI platform.