By Lisa Kerner
Erie, Pa., May 9 - Aurora Imaging Technology, Inc. said it closed the sale of $10 million series C preferred stock to two equity funds, Pharos Capital Partners II and Pharos Capital Partners II-A, both managed by the Pharos Capital Group.
Proceeds will be used to expand national and international selling and marketing activities related to the commercialization of the Aurora 1.5T Dedicated Breast MRI System with Bilateral UltraRODEO.
Aurora, a private company based in North Andover, Mass., manufactures breast MRI solutions for the detection, diagnosis, biopsy and treatment of breast cancer.
| Issuer: | Aurora Imaging Technology, Inc.
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| Issue: | Series C preferred stock
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| Amount: | $10 million
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| Investor: | Pharos Capital Group
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| Announcement date: | May 9
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