EXCLUSIVE: Sleep Disorder Focused ProSomnus Raises $10M To Fuel Growth, Optimize Operations
Portfolio Pulse from Vandana Singh
ProSomnus Inc (NASDAQ:OSA) has raised $10 million in a convertible preferred equity offering led by Spring Mountain Capital and Cetus Capital. The funds will be used to optimize the company's operations and support its strategic growth initiatives. The company's goal is to reach cash flow breakeven while still delivering strong top-line growth.
September 21, 2023 | 12:00 pm
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ProSomnus has raised $10M in a convertible preferred equity offering. The funds will be used to optimize operations and support growth, aiming to reach cash flow breakeven.
The successful equity offering provides ProSomnus with additional capital to optimize its operations and support its growth initiatives. This could potentially improve the company's financial performance, making it more attractive to investors and potentially driving up the stock price in the short term.
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