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Ozop Surgical inks $7 million Equity Purchase Agreement with GHS Investments

The deal allows the medical device company to sell $7 million worth of stock to GHS over the next 36 months

Surgical equipment
Ozop Surgical Corp manufactures endoscopic instruments, surgical implants and other devices

Ozop Surgical Corp (OTCMKTS:OZSC) has agreed to a $7 million Equity Purchase Agreement with GHS Investments LLC, the company announced Tuesday.

The deal allows the medical device company to sell $7 million worth of stock to GHS over the next 36 months. Under the terms of the agreement, Ozop can sell shares in chunks as large as $400,000.

The price per share will be set at 85% of its market price. On Tuesday morning, the company’s stock rose 20% to $0.03.

READ: Ozop Surgical completes initial testing of its adjustable ALIF interbody spinal implant

“We are excited to have such a quality financing partner like GHS Investments to be part of the OZOP story,” CEO Michael Chermak said. “Since the Equity Agreement is on a look-back basis and there are no make-up provisions, this is truly a non-toxic equity investment. Proceeds received from the sale of common stock under this agreement will enable us to retire debt, including toxic convertible notes and continue to invest in our pipeline products.”

Ozop Surgical Corp is a Florida-based company that manufactures endoscopic instruments, surgical implants and other devices focused on neurological issues and pain management.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Ozop Surgical Corp.

Price: 0.0105 USD

OTCMKTS:OZSC
Market: OTCMKTS
Market Cap: $838.58 k
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