SS Innovations Reports Equity Sales, Officer Changes on Feb 13

TL;DR

**SS Innovations just reported unregistered equity sales and major officer/director changes on Feb 13, signaling potential shifts in ownership and leadership.**

AI Summary

SS Innovations International, Inc. filed an 8-K on February 15, 2024, reporting events that occurred on February 13, 2024. The filing disclosed unregistered sales of equity securities and significant changes in its leadership, including the departure, election, and appointment of certain directors and officers, along with their compensatory arrangements. Specific details regarding the individuals involved or the financial amounts of the equity sales and compensation were not provided in the excerpt.

Why It Matters

Changes in equity ownership and corporate leadership can signal a shift in company strategy or control, potentially impacting future performance and shareholder value. Unregistered equity sales can dilute existing shares, while new officers may bring a fresh direction.

Risk Assessment

Risk Level: medium — Unregistered equity sales can lead to share dilution and uncertainty, while significant officer changes can introduce instability or a new, unproven direction for the company.

Key Numbers

• N/A — Unregistered Equity Sales Amount (Specific dollar amounts or share counts for equity sales were not provided in the filing excerpt.)
• N/A — Compensatory Arrangements Value (Specific financial details of compensatory arrangements for officers were not provided in the filing excerpt.)

Key Players & Entities

• SS Innovations International, Inc. (company) — registrant
• AVRA Medical Robotics, Inc. (company) — former company name
• February 13, 2024 (date) — date of earliest event reported
• February 15, 2024 (date) — filing date
• Florida (company) — state of incorporation

FAQ

Key Financial Figures

• $1,000,000 — ive February 14, 2024, the Company sold $1,000,000 in principal amount of 7% Convertible O
• $4 — r common stock at a conversion price of $4.45, subject to adjustment for stock spl
• $5.00 — is exercisable at an exercise price of $5.00 per share for a five (5) year period co

Filing Documents

• ea193886-8k_ssinnova.htm (8-K) — 25KB
• 0001213900-24-014547.txt ( ) — 189KB
• ssii-20240213.xsd (EX-101.SCH) — 3KB
• ssii-20240213_lab.xml (EX-101.LAB) — 33KB
• ssii-20240213_pre.xml (EX-101.PRE) — 22KB
• ea193886-8k_ssinnova_htm.xml (XML) — 3KB

02 Unregistered

Item 3.02 Unregistered Sales of Equity Securities. Effective February 14, 2024, the Company sold $1,000,000 in principal amount of 7% Convertible One-Year Promissory Notes (the " Bridge Notes ") to each of two investors in a private transaction, one of whom was Sushruta Pvt. Ltd., the Bahamian holding company owned by Dr. Sudhir Srivastava, our Chairman, Chief Executive Officer and principal shareholder. Interest on the Bridge Notes accrues at the rate of 7% per annum and is payable together with the principal amount on the maturity date, which is one year from issuance. At the option of the noteholder, the Bridge Notes may be converted at any time prior to maturity into shares of our common stock at a conversion price of $4.45, subject to adjustment for stock splits, stock dividends and similar recapitalization events. All of the foregoing securities were issued in accordance with the exemption from registration afforded by Section 4(a)(2) of and Rule 506(b) of Regulation D under the Securities Act of 1933, as amended, as the persons receiving such shares provided the Company with appropriate representations as to their investment intent and their status as " accredited investors " as defined in Rule 501(a) of Regulation D.

02 Departure of Directors or Certain

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 13, 2024 (the " Grant Date "), the Company's board of directors approved the grant under our 2016 Incentive Stock Plan (the " Plan ") to Dr. Sudhir Srivastava, our Chairman and Chief Executive Officer of a stock option to purchase 3,350,221 shares of our common stock. The option vests in full on the Grant Date, is exercisable at an exercise price of $5.00 per share for a five (5) year period commencing on the Grant date and is otherwise subject to the terms and conditions of the Plan. 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: February 15, 2024 SS INNOVATIONS INTERNATIONAL, INC. By: /s/ Sudhir Srivastava Sudhir Srivastava, M.D. Chairman and Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR