UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
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As used in this Current Report on Form 8-K (this “Report”), the terms “SSi,” “the Company,” “we,” “us” and “our” refer to SS Innovations International, Inc. and its subsidiaries.
Item 3.02 Unregistered Sales of Equity Securities.
The disclosure set forth in Item 8.01 of this Current Report on Form 8-K is incorporated into this item by reference.
Item 8.01 Other Events.
Dr. Sudhir Srivastava, our Chairman and Chief Executive Officer, through his Bahamian holding company, Sushruta Pvt Ltd. (“Sushruta”), has provided the Company with $2.0 million in financing on December 4, 2024, $5.0 million in financing on January 3, 2025 and an additional $10.0 million in financing on January 20, 2025. Dr. Srivastava has also advised the Company that he intends to provide an undetermined amount of additional financing to support the Company’s financial needs for capacity expansion and increased working capital requirements as it expands its business during 2025. Each tranche of financing provided by Dr. Srivastava is evidenced by a one-year convertible promissory note (collectively, the “One-Year Notes”). The One-Year Notes bear interest at the rate of seven percent (7%) per annum, which accrues and is due at maturity. The One-Year Notes are convertible at the option of the holder at a conversion price of $1.38 per share at maturity, or upon the earlier of completion of a Qualified Sale (as defined in the One-Year Notes). The conversion price is subject to adjustment for stock splits, stock dividends and similar recapitalization events.
The One-Year Notes 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 Company was provided with appropriate representations as to Sushruta’s investment intent and its status as an “accredited investor” as defined in Rule 501(a) of Regulation D.
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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: January 24, 2025 | SS INNOVATIONS INTERNATIONAL, INC. | |
By: | /s/ Sudhir Srivastava | |
Sudhir Srivastava, M.D. | ||
Chairman and Chief Executive Officer |
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