SS Innovations International, Inc. (SSII): M&A transaction — Avra Medical Robotics completes merger with CardioVentures, becomes SS Innovations International

SS Innovations International, Inc.

Merger closed April 14, 2023; CardioVentures shareholders received ~135.8M shares (95% of post-Merger common stock) plus Series A Preferred with 51% voting control.
Company renamed SS Innovations International, Inc.; implemented one-for-ten reverse stock split effective April 17, 2023.
Dr. Sudhir Srivastava becomes Chairman and CEO; other management changes: Cohen becomes COO–Americas, Vishwajyoti P. Srivastava President/COO South Asia, Anup Sethi CFO.
Dr. Frederic Moll received 3,818,028 post-Merger shares for $3M interim financing.
Company focuses on SSI-India's 'SSI Mantra' surgical robotic system; intellectual property assigned to SSII subsidiary with 3% royalty on net revenues.

item 2.01 item 3.02 item 5.01 item 5.02 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.99

SS Innovations International, Inc. completed an acquisition involving CardioVentures, Inc. for Holders of CardioVentures common stock were issued 135,808,884 shares of SSII common stock (approximately 95% of post-Merger shares) and shares of newly designa (closed 2023-04-14).

Action: acquisition
Counterparty: CardioVentures, Inc.
Consideration: Holders of CardioVentures common stock were issued 135,808,884 shares of SSII common stock (approximately 95% of post-Merger shares) and shares of newly designa
Closing: 2023-04-14

Exact text from the filing

shares of common stock of CardioVentures (including certain parties who provided interim convertible financing during the pendency of the Merger Agreement, were issued 135,808,884 shares of SSII common stock, representing approximately 95% of issued and outstanding shares of SSII common stock post-Merger, with the existing shareholders of SSII holding

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SS Innovations International, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-031058

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