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ClearPoint Neuro, Inc. Announces Funding of Additional $7.5M of Existing Convertible Note on Improved Terms
Represents Draw of Additional Proceeds from Petrichor Announced in January 2020
IRVINE, Calif., Dec. 29, 2020 (GLOBE NEWSWIRE) ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the “Company”), a global therapy-enabling platform company providing navigation and delivery to the brain, today announced an amendment to its January 2020 secured convertible note financing agreement with Petrichor Healthcare Capital Management (“Petrichor”) and PTC Therapeutics, Inc. The amendment, closed today, provides for an additional $7.5 million strategic investment from Petrichor and improves terms relative to the original conversion price and interest rate. The Company intends to use net proceeds to continue funding global product commercialization, external strategic portfolio partnerships, and internal research and development efforts. ....

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