Avra Medical Robotics enters $3M investment agreement with Dr. Moll convertible into 7% of post-merger equity

SS Innovations International, Inc.

Dr. Moll provides additional $1M (total $3M) interim financing for CardioVentures working capital.
Upon merger close, Moll receives 7% of SSII on fully-diluted basis; Srivastava forfeits 2% of CardioVentures shares.
If merger not consummated by April 14, 2023, Moll has put right to cash repayment at 7% annual return (12% if late).
Merger would rename company to SS Innovations International, Inc. (SSII) and combine with CardioVentures.
Financing priced at $100M pre-money valuation; anti-dilution adjustment if future capital raised below that.

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 Investment Agreement with Dr. Frederic Moll valued at $1,000,000 in financing (effective 2023-04-07).

Action: entry
Agreement: equity purchase
Counterparty: Dr. Frederic Moll
Value: $1,000,000 in financing
Effective: 2023-04-07

Exact text from the filing

On April 7, 2023, we entered into an Investment Agreement (the “ Investment Agreement ”) with Dr. Frederic Moll (“ Dr. Moll ”), pursuant to which, on April 10, 2023, Dr. Moll, in addition to $2,000,000 in financing previously provided to the Company (the “ Initial Investment ”), provided us with an additional $1,000,000 in financing (the “ Additional Investment ,” and together with the Initial Investment, the “ Interim Financing ”)

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SS Innovations International, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-029663

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