on MONOGRAM ORTHOPAEDICS INC (NASDAQ:MGRM)
Monogram Technologies Enacts Mandatory Conversion of Preferred Stock
Monogram Technologies Inc. (NASDAQ:MGRM), based in Austin, Texas, announced the mandatory conversion of its 8.00% Series D Convertible Cumulative Preferred Stock. This move affects shares issued during an offering that concluded on October 1, 2024. The announcement follows the company's stock performance, which met the criteria for conversion as per its Certificate of Designation.
The conditions for conversion were satisfied when the closing price of Monogram’s common stock exceeded $2.8125 for ten consecutive trading days, closing on July 7, 2025. As a result, the conversion is set to take effect on July 14, 2025. This strategic step aligns with Monogram's focus on orthopedic surgical advancements.
R. H.
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