Monogram Technologies Raises 8.00% Series D Convertible Cumulative Preferred Stock and Warrant Offering to $12.5 Million Page 1

AUSTIN, TX / ACCESSWIRE / September 11, 2024 / Monogram Technologies Inc. (NASDAQ:MGRM) (“Monogram” or the “Company”), an AI-driven robotics company focused on improving human health with an initial focus on orthopedic surgery, today announced an increase of its previously announced continuous offering of units from $10 million to $12.5 million worth of units. Each unit consists of (a) one share of the Company’s 8.00% Series D Convertible Cumulative Preferred Stock (the “Series D Preferred Stock”) and (b) one common stock purchase warrant to purchase one share of its common stock, par value $0.001 per share (the “Common Share”).

The units have no rights in themselves and are not certified or issued as stand-alone securities. The warrants are exercisable after the 180^and day after July 9, 2024 (the date of filing of the initial prospectus supplement for the offering) through July 8, 2025, unless earlier redeemed. Each warrant to purchase common stock is exercisable to purchase one share of common stock at an exercise price of $3.375 per share (150% of the public offering price of the unit). The shares of Series D Preferred Stock and the warrants are immediately separable and will be issued and traded separately, but are being purchased together as a unit in this offering.

At any time after issuance, each share of Series D Preferred Stock will be convertible into one share of Common Stock at the option of the holder. There is no existing public trading market for the Series D Preferred Stock. The Company does not intend to apply to list the Series D Preferred Stock or the Common Stock Purchase Warrants on any national securities exchange or listed on any over-the-counter market. Dividends on the Series D Preferred Stock may, at the Company’s option, be paid in cash or in kind in the form of Common Stock.

The Company will use the proceeds from the offering for general corporate and business purposes, operational needs and to fund various strategic initiatives, including, among other things, the development of new technologies and potential acquisitions.

“We are pleased to be positioned to expand our offerings and further advance Monogram’s mission to transform orthopedic surgeries,” said Benjamin Sexson, CEO of Monogram Technologies. “These funds will provide us with additional resources to support key initiatives as we continue to innovate within the orthopedic market.”