trending Market Intelligence /marketintelligence/en/news-insights/trending/ZHOOwGydHEoTj9pLAPM4vA2 content esgSubNav
In This List

Conformis signs stock purchase deal with Lincoln Park Capital Fund

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

Insight Weekly: Banks' efficiency push; vacuuming carbon; Big Pharma diversity goals

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model


Conformis signs stock purchase deal with Lincoln Park Capital Fund

Conformis Inc. signed a common stock purchase agreement and registration rights agreement with asset manager Lincoln Park Capital Fund LLC.

Upon entering the deals, the Chicago-based fund acquired $1 million of Conformis stock at 52 cents per share.

The agreements give Conformis the right to sell Lincoln Park Capital up to $20.0 million of its shares within three years. Purchase price per share will be based on prevailing market prices.

Additionally, Conformis said it issued 354,430 shares as consideration for Lincoln Park Capital's commitment to purchase its common shares.

Conformis may terminate the agreements at any time without any cost or penalty.

Billerica, Mass.-based Conformis, which develops and sells joint replacement implant devices, will use proceeds for general corporate purposes.