The private placement offering, led by PTC Therapeutics, has secured approximately $5.4 million in funding. Additionally, the securities purchase agreement also provides for the potential purchase of up to an additional $2.9 million by investors that had previously invested in MRI Interventions in May 2017 pursuant to such investors' participation rights as set forth in the securities purchase agreement governing the May 2017 investment. Such prior investors must notify MRI Interventions within three days following receipt of notification about the current offering to exercise this participation right. There are no assurances that such prior investors will determine to purchase any securities pursuant to this participation right.
The securities to be sold by MRI Interventions pursuant to the transactions describe above have not been registered under the Securities Act of 1933 or state securities laws and may not be offered or sold in the United States absent registration with the U.S. Securities and Exchange Commission or an applicable exemption from such registration requirements.
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About MRI Interventions, Inc.
Building on the imaging power of magnetic resonance imaging ("MRI"), MRI Interventions is creating innovative platforms for performing the next generation of minimally invasive surgical procedures in the brain. The ClearPoint Neuro Navigation System, which has received 510(k) clearance and is CE marked, utilizes a hospital's existing diagnostic or intraoperative MRI suite to enable a range of minimally invasive procedures in the brain.
About PTC Therapeutics, Inc.
PTC is a science-led, global biopharmaceutical company focused on the discovery, development and commercialization of clinically-differentiated medicines that provide benefits to patients with rare disorders. PTC's ability to globally commercialize products is the foundation that drives investment in a robust pipeline of transformative medicines and our mission to provide access to best-in-class treatments for patients who have an unmet medical need.
SOURCE PTC Therapeutics, Inc.
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