By Mark Hollmer
Aurora Spine says it closed a 2-tranche private placement, raising about $3 million for its spinal devices.
Aurora Spine (TSX: ASG) said it raised about $3 million ($3.7 million Canadian) in a private placement broken down in 2 tranches.
The California-based spinal device maker plans to use the cash infusion for “working capital purposes.”
Hi Josh,
Not sure if I am doing the proper thing by asking you this BUT… here it goes. I’m a little under water with ASG and not overly upset about it. I have a large portfolio, well diversified and fully realized the risk when I took a small position. To be honest, I liked what Steven Smedley had to say on BNN Feb 2014.
Would you mind sharing your views of ASG moving forward? Is my principle gone if I continue to sit tight and remain patient? Hard to find good subjective information on ASG.
Thanking you for Your time in advance
Gord McFarlane
604-375-1760
Hi Josh,
Not sure if I am doing the proper thing by asking you this BUT… here it goes. I’m a little under water with ASG and not overly upset about it. I have a large portfolio, well diversified and fully realized the risk when I took a small position. To be honest, I liked what Steven Smedley had to say on BNN Feb 2014.
Would you mind sharing your views of ASG moving forward? Is my principle gone if I continue to sit tight and remain patient? Hard to find good subjective information on ASG.
Thanking you for Your time in advance
Gord McFarlane
604-375-1760
Hi Josh,
Not sure if I am doing the proper thing by asking you this BUT… here it goes. I’m a little under water with ASG and not overly upset about it. I have a large portfolio, well diversified and fully realized the risk when I took a small position. To be honest, I liked what Steven Smedley had to say on BNN Feb 2014.
Would you mind sharing your views of ASG moving forward? Is my principle gone if I continue to sit tight and remain patient? Hard to find good subjective information on ASG.
Thanking you for Your time in advance
Gord McFarlane
604-375-1760
Hi Gord, Thank you for your thoughtful question. I think that ASG has a tough road ahead of them. There are many issues that have to be navigated before I believe the market will respond positively to the stock. I am not a stock advisor so please don’t take this as advice of whether or not you should hold or sell, however, I know the market of spine extremely well and there are many reasons why I wouldn’t invest my money in ASG. The product offering is limited which makes it difficult to get enough attention from independent distributors. They have had significant turnover in the executive staff (primarily in the VP of Sales role). I don’t know why that is but having a few executives come and go within 6 months of hire is a concern. Lastly, the use of marketing funds is a little bit of a head scratcher and they have become kind of a punchline of what not to do (regarding high burn). It seems that they wanted to blitz the market and try to sell quickly, which I just don’t see happening in the short term because there’s not enough value for a strategic in the foreseeable future.
Hi Gord, Thank you for your thoughtful question. I think that ASG has a tough road ahead of them. There are many issues that have to be navigated before I believe the market will respond positively to the stock. I am not a stock advisor so please don’t take this as advice of whether or not you should hold or sell, however, I know the market of spine extremely well and there are many reasons why I wouldn’t invest my money in ASG. The product offering is limited which makes it difficult to get enough attention from independent distributors. They have had significant turnover in the executive staff (primarily in the VP of Sales role). I don’t know why that is but having a few executives come and go within 6 months of hire is a concern. Lastly, the use of marketing funds is a little bit of a head scratcher and they have become kind of a punchline of what not to do (regarding high burn). It seems that they wanted to blitz the market and try to sell quickly, which I just don’t see happening in the short term because there’s not enough value for a strategic in the foreseeable future.
Hi Gord, Thank you for your thoughtful question. I think that ASG has a tough road ahead of them. There are many issues that have to be navigated before I believe the market will respond positively to the stock. I am not a stock advisor so please don’t take this as advice of whether or not you should hold or sell, however, I know the market of spine extremely well and there are many reasons why I wouldn’t invest my money in ASG. The product offering is limited which makes it difficult to get enough attention from independent distributors. They have had significant turnover in the executive staff (primarily in the VP of Sales role). I don’t know why that is but having a few executives come and go within 6 months of hire is a concern. Lastly, the use of marketing funds is a little bit of a head scratcher and they have become kind of a punchline of what not to do (regarding high burn). It seems that they wanted to blitz the market and try to sell quickly, which I just don’t see happening in the short term because there’s not enough value for a strategic in the foreseeable future.