Nearly one month after agreeing to acquire Augmedix, index component Commure has authorized new Series D-1 and D Prime preferred stock, priced at $80.09 per share, the same price as its Series D stock.
In July, Commure announced that it would be acquiring Augmedix, a company specializing in ambient AI medical documentation and data solutions, for roughly $139 million, which it said it expected to close during late Q3 or Q4 of this year. According to Yahoo Finance, the funding for this transaction was expected to come from Commure’s existing cash reserves and liquidity options. Commure says the companies are “on track to power over 3 million physician appointments using artificial intelligence, ambient scribing, and revenue cycle automation this year.”
On August 8, 2024, Commure filed a Certificate of Incorporation with the state of Delaware that authorized new Series D-1 and D Prime stock, priced the same as its Series D. It is unclear if this stock is tied to the acquisition.
Commure last raised a $153.75M Series D round in January 2022, which valued the company at $3.5 billion. In October 2023, Commure announced that it was merging with Athelas and that the new entity was valued at $6B. Commure’s investors include General Catalyst, Human Capital, Greenoaks Capital, 8VC, Lux Capital, Quiet Capital, and others.