Full Press Release Details
Monogram Technologies Announces Preferred Stock
AUSTIN, TX - September 30, 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, announced today the declaration of a dividend of $0.0255 per share
payable to holders of record of shares of the Company's 8.00% Series D Convertible Cumulative Preferred Stock (the "Series
D Preferred Stock") at the close of business on October 1, 2024. In addition, the Company announced that it will be paying the dividend
in kind based on the closing price of its common stock, par value $0.001 per share on September 30, 2024. Holders of record will
receive the dividend on October 15, 2024. Dividends on the Series D Preferred Stock are payable quarterly in arrears to Series D Preferred
Stockholders of the record, on or about the 15th day of January, April, July and October, beginning on or about October 15,
About Monogram Technologies Inc.
Monogram Technologies (NASDAQ: MGRM) is an AI-driven
robotics company focused on improving human health, with an initial focus on orthopedic surgery. The Company is developing a product solution
architecture to enable patient-optimized orthopedic implants at scale by combining 3D printing, advanced machine vision, AI and next-generation
Monograms mB s precision robotic surgical
system is designed to autonomously execute optimized paths for high-precision insertion of its FDA-cleared mPress press-fit implants.
The goal is well balanced better-fitting bone sparing knee replacements. The Company initially intends to produce and market robotic surgical
equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation
necessary for reconstructive joint replacement procedures. Other clinical and commercial applications for the mB s with mVision
navigation are also being explored.
Monogram has obtained FDA clearance for mPress
implants and applied for 510(k) clearance for its robotic products. The Company is required to obtain FDA clearance before it can market
its products. Monogram cannot estimate the timing or assure the ability to obtain such clearances.
The Company believes that its mB s precision
robotic surgical assistants, which combine AI and novel navigation methods (mVision), will enable more personalized knee implants for
patients, resulting in well balanced better-fitting knee replacements with bone sparing implants. Monogram anticipates that there may
be other clinical and commercial applications for its navigated mB s precision robot and mVision navigation.
To learn more, visit monogramtechnologies.com.
Forward-Looking Statements
This press release may contain
"forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other
than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees
of future performance or results and involve a number of risks and uncertainties. For example, the Company's statement regarding the
Company's proposed use of net proceeds is a forward-looking statement. Forward-looking statements, other than statements of
historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future
that are or are not under our control, and that the Company may or may not have considered; accordingly, such statements cannot be
guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially
from any forward-looking statements as a result of a number of factors, including those described in the prospectus and the
Company's other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All
forward-looking statements speak only as of the date of this press release.
Executive Vice President
Direct: 949-491-8235