Monogram Orthopaedics, Inc. announced that it has entered into a common stock purchase agreement to issue 5,847,725 common shares at a price of $3.420133 per share for the gross proceeds of $20,000,000 on July 19, 2023. The transaction will include participation from new investor B. Riley Principal Capital II, LLC. As part of the transaction, B. Riley Principal Capital II?s commitment to purchase shares of common stock at the company?s direction upon the terms and subject to the conditions set forth in the purchase agreement, upon execution of the purchase agreement, the company paid a cash commitment fee in the amount of $200,000 and issued 45,252 commitment shares to the investor which commitment shares have a total aggregate value equal to 1% of total aggregate gross proceeds.

The securities that have been or may be issued under the purchase agreement are exempt from registration under the Securities Act, in reliance on Section 4(a)(2) thereof and Rule 506(b) of Regulation D thereunder.