Strata Skin Sciences Inc. said its shareholders voted to approve an equity financing to raise $17 million from a group of investors.
Under the financing, the Horsham, Pa.-based medical device-maker agreed to sell 15,740,740 common shares to investors led by Accelmed Growth Partners, a private equity investment firm focused on medical device companies.
While Accelmed invested $13 million, the remaining capital came from other investors including interim CEO Dolev Rafaeli, Gohan Investments, Broadfin Capital LLC and Sabby Management LLC.
As per the terms of the financing, the company will appoint Accelmed's managing partner Uri Geiger as its Chairman and Rafaeli as its permanent CEO.
