Business
SS Innovations Announces Completion of an $18.6 Million Private Placement to Support Growth Initiatives
Financing led by Certain of the Company’s Directors and Executive Officers FORT LAUDERDALE, Fla., March 09, 2026 (GLOBE NEWSWIRE) -- SS Innovations
About this update from Ss Innovations International Inc.
[{"type":"text","content":"Financing led by Certain of the Company’s Directors and Executive Officers\nFORT LAUDERDALE, Fla., March 09, 2026 (GLOBE NEWSWIRE) -- SS Innovations International, Inc. (the “Company” or “SS Innovations”) (Nasdaq: SSII), a developer of innovative surgical robotic technologies dedicated to making robotic surgery affordable and accessible to a global population, today announced that on March 6, 2026, the Company completed a private placement of its common stock (the “Private Placement”) which generated approximately $18.6 million in gross proceeds, before deducting offering expenses. In the offering, the Company offered and sold a total of 5,774,839 shares of common stock consisting of: an aggregate of 1,300,006 shares of common stock at an average price of $4.00 per share, or a total of approximately $5.2 million, to Dr. Sudhir Srivastava, our Chairman and Chief Executive Officer ($2.0 million), Dr. Frederic H. Moll, our Vice-Chairman ($2.0 million), and Tim Adams, a director ($1.197 million); andan aggregate of 4,474,833 shares of common stock at $3.00 per share, or a total of approximately $13.4 million, to existing and new investors, led by Manipal Global Health Services, an existing shareholder. SS Innovations intends to use the net proceeds from this financing for working capital and other general corporate purposes, including advancing the Company’s global expansion efforts. In connection with a $2.5 million investment by one of the non-affiliate investors in the Private Placement, SS Innovations will pay a FINRA member firm a cash commission of $175,000 (7% of the investment) and issue to such firm five-year warrants to purchase 41,667 shares of our common stock at an exercise price of $3.45 per share. Dr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, commented, “The net proceeds from this financing will advance our growth initiatives in India and other existing global markets, while supporting our preparation for entry into the United States and European Union markets. We anticipate that the U.S. Food and Drug Administration will complete its review of our 510(k) premarket notification for our SSi Mantra surgical robotic system by mid-2026. We also continue along the pathway towards a European Union CE marking certification for the SSi Mantra, which we believe we can also obtain i...