On February 16, 2021, Mainstay Medical Holdings plc closed the transaction. The company has raised gross proceeds of $108 million in equity financing led by new investors Ally Bridge Group, Sofinnova Crossover I managed by existing investor Sofinnova Partners SAS, and also included a large, global medical device company. The transaction included participation from existing investors Capital fund managed by Sofinnova Partners SAS, KCK Group, and Fountain Healthcare Partners. Charles Chon, Partner and Managing Director at Ally Bridge Group and Cédric Moreau, Partner at Sofinnova Partners SAS joined company's board of directors. The company received $107,999,979 pursuant to exemption provided under regulation D from 12 investors.