Dental technology company Sonendo received $5 million in gross proceeds from a private placement of common stock.
The company will use the funding to expand commercial programs, continue to execute business restructuring, retain senior leadership and store as working capital, according to a May 1 news release.
Sonendo entered into securities purchase agreements with investors to sell 4 million shares of its common stock at a price of $1.25 per share.
Both new and existing investors, including certain directors and officers of Sonendo, participated in the financing, the release said.
