Avra Medical Robotics to acquire CardioVentures in reverse merger; SSI-DE holders to get 95% of stock

SS Innovations International, Inc.

SSI-DE stockholders to receive 95% of post-merger Avra common stock plus Series A Preferred shares with 51% voting power.
Avra provided $1.44M interim financing to SSI-DE; up to $5M in convertible notes sold to three accredited investors.
Conditions include 1-for-10 reverse stock split, name change to 'SS Innovations, Inc.', and authorized shares increase to 250M.
Dr. Srivastava to assign SSI intellectual property to Avra; current Avra directors to resign except Barry Cohen.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SS Innovations International, Inc. entered into Merger Agreement with CardioVentures, Inc. and Dr. Sudhir Srivastava (effective 2022-11-07).

Action: entry
Agreement: merger
Counterparty: CardioVentures, Inc. and Dr. Sudhir Srivastava
Effective: 2022-11-07

Exact text from the filing

On November 7, 2022, AVRA entered into a definitive Merger Agreement (the “ Merger Agreement ”), by and among AVRA, AVRA-SSI Merger Corporation, a Delaware corporation and wholly-owned subsidiary of AVRA (“ Merger Sub ”), CardioVentures, Inc., a Delaware corporation (“ SSI - DE ”) Dr. Sudhir Srivastava (“ Dr. Srivastava ”), who, through his holding company, owns a controlling interest in SSI-DE.

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SS Innovations International, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-22-069538

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