ProSomnus Raises $10 Million To Fuel Growth and Optimize Operations
The new capital will be leveraged to optimize the Company’s core business operations and support its strategic growth initiatives, as the Company works to achieve cash flow breakeven.
“The completion of this financing fortifies our balance sheet as we continue our mission to make precision oral appliance therapy the preferred first-line treatment for Obstructive Sleep Apnea,” said
This press release is not an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there by any offer, solicitation or sale of any securities of the Company in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.
ProSomnus (NASDAQ: OSA) is a leading CPAP alternative for the treatment of Obstructive Sleep Apnea, a serious medical disease affecting over 1 billion people worldwide, that is associated with comorbidities including heart failure, stroke, hypertension, morbid obesity, and type 2 diabetes. ProSomnus intraoral medical devices are engineered to precisely track the treatment plan and anatomy for each patient. Non-invasive, patient preferred and easy to use, ProSomnus devices have demonstrated excellent efficacy, safety, adherence, and overall outcomes in a growing body of clinical investigations. ProSomnus precision intraoral devices are FDA-cleared, patented, and covered by commercial medical insurance, Medicare, TRICARE and many Government sponsored healthcare plans around the world, representing over 200 million covered lives. To learn more, visit www.ProSomnus.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern the proposed transaction and the Company’s expectations, strategy, plans or intentions regarding it. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company’s ability to achieve cash flow breakeven and deliver top-line growth, the expected use of proceeds from the financing timing and the Company ability to optimize its business and achieve strategic growth initiatives.
All forward-looking statements included in this press release are made as of the date of this press release, based on information currently available to the Company, deal with future events, are subject to various risks and uncertainties. Such risks and uncertainties include, but are not limited to: (i) the Company’s limited operating history and history of losses; (ii) the Company’s ability to maintain and grow its profit margin from sales of ProSomnus oral devices; (iii) the Company’s ability to expand internationally; (iv) the roll-out of the Company’s business and the timing of expected business milestones; (v) the Company’s ability to formulate, implement and modify as necessary effective sales, marketing, and strategic initiatives to drive revenue growth; (vi) expectations concerning the effectiveness of OSA treatment using the Company’s oral devices and the potential for patient relapse after completion of treatment; (vii) the understanding and adoption by dentists and other healthcare professionals of ProSomnus oral devices for mild-to-moderate OSA; (viii) risk related to compliance debt covenants or successfully renegotiating such covenants; (ix) the viability of the Company’s intellectual property and intellectual property created in the future; (x) government regulations and the Company’s ability to obtain applicable regulatory approvals and comply with government regulations, including under healthcare laws and the rules and regulations of the
Source: ProSomnus Sleep Technologies, Inc.