Dynatronics this week raised raised $7.8 million in a new round of equity and mixed funding to cover its acquisition Hausman Industries assets, including physical therapy and athletic training products.
Money came from 17 unnamed investors, with the company hoping to bring in an additional $1.2 million before closing the round. All funds raised during the round were used to cover the cost of purchasing the Hausmann Industries assets, according to the SEC filing.
The Cottonwood Heights, Utah-based company said it expects the financial contribution of the purchased assets to be material during the coming year, with updated information slated to be released at its 3rd quarter earnings call.
“The addition of Hausmann strengthens our position in the physical therapy and athletic training space. We believe the combined business will create value for both our investors and the customers we serve,” Dynatronics chair & CEO Kelvyn Cullimore Jr. said in a press release.
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