New Wave Surgical Corp Announces Completion of Series B Preferred Stock Offering

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Laparoscopic device manufacturer, New Wave Surgical Corp, today announced the closing of its Series B Preferred Stock Offering. The offering closed oversubscribed with a total raise of $1,215,000.

We are gratified with the response to this offering, especially considering the tough economic environment. This funding will help New Wave Surgical expand internationally and ramp up its sales force domestically,” said Andrew Widmark, Executive Chairman

New Wave Surgical Corp. today announced the closing of its Series B Preferred Stock Offering. The offering closed oversubscribed with a total raise of $1,215,000. In connection with the new fundraising, existing debt was converted into equity. A consortium of private investors, including the Ariel Savannah Angel Partners as well as board members and Series A Preferred investors participated in this round.

“We are gratified with the response to this offering, especially considering the tough economic environment. This funding will help New Wave Surgical expand internationally and ramp up its sales force domestically,” said Andrew Widmark, Executive Chairman of the company.

New Wave Surgical’s patented flagship product D-HELP® and its Advanced Laparoscopic Care Kit® have been used in over 30,000 procedures since their launch in 2008. The company plans to use the funding to expand its manufacturing facilities and grow its direct and independent sales force world-wide.

About New Wave Surgical Corp:
New Wave Surgical Corp. is a medical device visualization company incorporated in 2006 to design, patent, and market medical devices for the laparoscopic and endoscopic surgical markets. The development of New Wave Surgical’s™ devices was accomplished with the participation of leading surgeons, surgical residents, and operating room staff. New Wave Surgical’s™ medical devices are sterile intra-procedure disposable units that all complement each other to provide a complete visualization improvement solution for the entire endoscopic market.

For more information on New Wave Surgical Corp., visit http://www.newwavesurgical.com

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Alexander Gomez