Obstructive sleep apnea (OSA) oral appliance manufacturer ProSomnus Sleep Technologies has debuted as a publicly traded company after combining with Lakeshore Acquisition I.
On December 7, ProSomnus joins the Nasdaq Capital Market under the ticker symbol OSA. The business combination, along with the convertible debt issued in connection with the transaction, enables ProSomnus to scale its business by expanding and investing in technology, sales, and manufacturing of its aligners. Additionally, the capital will be used to grow the company internationally.
Next month, ProSomnus will open its design and manufacturing facility, which will be optimized for mass customized manufacturing, artificial intelligence-driven design, and 3D robotic milling. It also will allow the company to increase its manufacturing capacity fourfold.
Len Liptak, co-founder and CEO; Laing Rikkers, co-founder and executive chair; William Johnson, audit chair and director; and Len Hedge, director, will continue to lead ProSomnus.
Effective December 6, ProSomnus appointed the following individuals to its board of directors:
- Heather Rider, who is on the board at oxygen therapy technology manufacturer Inogen, will serve as compensation committee chair
- Steve Pacelli, executive vice president and managing director of glucose monitoring system manufacturer Dexcom Ventures
- Jason Orchard, managing director of investment management firm Spring Mountain Capital
