Monogram Orthopaedics (MGRM) Launches $10M Preferred Units Offering

Monogram Technologies Inc. (NASDAQ: MGRM) announced the launch of a continuous public offering of up to $10,000,000 of units at a public offering price of $2.25 (the "Public Offering"). Each unit consists of one share 8.00% Series D Redeemable Convertible Cumulative Preferred Stock and one warrant to purchase one share of common stock exercisable at $3.375 per share, which will result in net proceeds to the Company of approximately $9.25 million after payment of estimated commissions and offering expenses if all Units are sold.

The shares of the Series D Preferred Stock and the warrants are immediately separable and will be issued and tradeable separately, but will be purchased together. The Series D Preferred Stock pays a $0.18 per share per year dividend at an annual yield of approximately 8.00% and is convertible into one share of the Company's common stock for each share of the Series D Preferred Stock. The dividend is payable in cash or in-kind. The Company has the right to redeem the Series D Preferred Stock at a premium to the public offering price of the units, which declines over time from 200% down to 150% of the offering price. This Public Offering allows any suitable investor to log onto the Monogram Public Offering website at monogramtechnologies.com and with a click of a button, subscribe to the offering.

Digital Offering, LLC ("Digital Offering"), is acting as the sole lead managing selling agent for the Public Offering. The units are being offered by Digital Offering on a "reasonable best efforts" basis. There is no public market for either the Series D Preferred Stock or warrants and the Company does not intend to apply for a listing of either on any national securities exchange. Digital Offering is a member of FINRA and SIPC. The Company may terminate this Public Offering at any time.

"We are excited to offer our loyal followers and shareholders the opportunity to participate in a Unit offering typically reserved for Wall Street institutional investors," said Benjamin Sexson, CEO of Monogram Technologies, Inc.

The offering is being conducted as a public offering pursuant to the prospectus supplement dated July 9, 2024 and the accompanying prospectus dated June 3, 2024, which have been filed with the Securities and Exchange Commission ("SEC"). These documents contain this and other information about the Company, the Series D Preferred Stock, and the warrants and should be read carefully before investing. The information in the prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The prospectus supplement, the accompanying prospectus and this press release are not offers to sell these securities and are not soliciting an offer to buy these securities in any state where such offer or sale is not permitted.

A shelf registration statement relating to these securities is on file with and has been declared effective by the SEC. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained at monogramtechnologies.com or by visiting EDGAR on the SEC's website at:

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