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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2023

Dec. 31, 2022

Schedule of Class A common stock subject to possible redemption reflected in the balance sheets reconciled

Convertible preferred stock at September 30, 2023, August 10, 2023, and December 31, 2022, is as follows:

​

​	​	​	​	​	​	​	​	​	​
​		September 30,			August 10,			December 31,
Series	​	2023		​	2023		​	2022
Series A-1 preferred stock, $0.001 par value per share. Issued, and outstanding 0 and 131,797 shares at September 30, 2023, and December 31, 2022, respectively	​	$	—	​	$	6,065	​	$	6,065
Series A-2 preferred stock, $0.001 par value per share. Issued, and outstanding 0 and 576,126 shares at September 30, 2023, and December 31, 2022, respectively		​	—		​	8,976		​	8,976
Series A-3 preferred stock, $0.001 par value per share. Issued, and outstanding 0 and 612,822 shares at September 30, 2023, and December 31, 2022, respectively		​	—		​	10,611		​	10,611
Series A-4 preferred stock, $0.001 par value per share. Issued, and outstanding 0 and 127,787 shares at September 30, 2023, and December 31, 2022, respectively		​	—		​	1,993		​	1,993
Series A-5 preferred stock, $0.001 par value per share. Issued and outstanding 0 shares at September 30, 2023;authorized 734,533, issued and outstanding 730,320 and December 31, 2022		​	—		​	12,858		​	12,858
Series A-6 preferred stock, $0.001 par value per share. Issued and outstanding 0 shares at September 30, 2023; authorized 805,848, issued and outstanding 800,657 at December 31, 2022		​	—		​	15,476		​	15,476
Series B preferred stock, $0.001 par value per share. Issued and outstanding 0 shares at September 30, 2023; authorized 7,021,678, issued and outstanding 6,984,971 at December 31, 2022, respectively		​	—		​	84,637		​	84,528
Series B-1 preferred stock, $0.001 par value per share. Issued, and outstanding 0 shares at September 30, 2023, authorized, issued and outstanding 1,659,672 at and December 31, 2022		​	—		​	23,500		​	23,499
Series B-2 preferred stock, $0.001 par value per share. Issued and outstanding 0 and 706,243 shares at September 30, 2023, and December 31, 2022, respectively		​	—		​	—		​	—
Series B-3 preferred stock, $0.001 par value per share. Issued and outstanding 0 and 0 shares at September 30, 2023, and December 31, 2022, respectively		​	—		​	39,858		​	—
Total convertible preferred stock	​	$	—	​	$	203,974	​	$	164,006

​

The following table summarizes activity in convertible preferred stock in the nine months ended September 30, 2023, and 2022.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance at

​

​

Retirements /

Balance at

Series

​

December 31, 2022

Issuances

Conversions

September 30, 2023

Series A-1

​

$

6,065

​

$

—

​

$

(6,065)

​

$

—

Series A-2

​

8,976

​

—

​

(8,976)

​

—

Series A-3

​

10,611

​

—

​

(10,611)

​

—

Series A-4

​

1,993

​

—

​

(1,993)

​

—

Series A-5

​

12,858

​

—

​

(12,858)

​

—

Series A-6

​

15,476

​

—

​

(15,476)

​

—

Series B

​

84,528

​

109

​

(84,637)

​

—

Series B-1

​

23,499

​

1

​

(23,500)

​

—

Series B-2

​

—

​

—

​

—

​

—

Series B-3

​

—

​

39,858

​

(39,858)

​

—

Total convertible preferred stock

​

$

164,006

​

$

39,968

​

$

(203,974)

​

$

—

​

​	​	​	​	​	​	​	​	​	​
​		Balance at			​	​		Balance at
Series	​	December 31, 2021		​	Issuances		​	September 30, 2022
Series A-1	​	$	6,065	​	$	—	​	$	6,065
Series A-2	​		8,976	​		—	​		8,976
Series A-3	​		10,611	​		—	​		10,611
Series A-4	​		1,993	​		—	​		1,993
Series A-5	​		12,858	​		—	​		12,858
Series A-6	​		15,476	​		—	​		15,476
Series B	​		84,528	​		—	​		84,528
Series B-1	​		20,000	​		3,499	​		23,499
Total convertible preferred stock	​	$	160,507	​	$	3,499	​	$	164,006

Convertible preferred stock, net of issuance costs, at December 31, 2022 and 2021, is as follows:

​	​	​	​	​	​	​
​		December 31,
Series	​	2022			2021
Series A‑1 preferred stock, $0.001 par value per share. Authorized, issued, and outstanding 131,797 shares at December 31, 2022 and 2021	​	$	6,065	​	$	6,065
Series A‑2 preferred stock, $0.001 par value per share. Authorized, issued, and outstanding 576,126 shares at December 31, 2022 and 2021	​		8,976	​		8,976
Series A‑3 preferred stock, $0.001 par value per share. Authorized, issued, and outstanding 612,822 shares at December 31, 2022 and 2021	​		10,611	​		10,611
Series A‑4 preferred stock, $0.001 par value per share. Authorized, issued, and outstanding 127,787 shares at December 31, 2022 and 2021	​		1,993	​		1,993
Series A‑5 preferred stock, $0.001 par value per share. Authorized 734,533 shares; issued and outstanding 730,320 shares at December 31, 2022 and 2021	​		12,858	​		12,858
Series A‑6 preferred stock, $0.001 par value per share. Authorized 805,848 shares; issued and outstanding 800,657 shares at December 31, 2022 and 2021	​		15,476	​		15,476
Series B preferred stock, $0.001 par value per share. Authorized 7,021,678 shares; issued and outstanding 6,984,971 and 6,984,971 shares at December 31, 2022 and 2021, respectively	​		84,528	​		84,528
Series B‑1 preferred stock, $0.001 par value per share. Authorized 1,659,672 shares; issued and outstanding 1,659,672 and 1,412,487 shares at December 31, 2022 and 2021, respectively	​		23,499	​		20,000
Series B‑2 preferred stock, $0.001 par value per share. Authorized 1,765,609 shares; issued and outstanding 706,243 and 0 shares at December 31, 2022 and 2021, respectively	​		—	​		—
Series B‑3 preferred stock, $0.001 par value per share. Authorized 8,474,924 shares; issued and outstanding 0 at shares at December 31, 2022 and 2021	​		—	​		—
Total convertible preferred stock	​	$	164,006	​	$	160,507

​

MedTech Acquisition Corp

Schedule of Class A common stock subject to possible redemption reflected in the balance sheets reconciled

​

​	​	​	​
Class A common stock subject to possible redemption, January 1, 2021		$	250,000,000
Plus:		​
Accretion of carrying value to redemption value		​	​
Class A common stock subject to possible redemption, December 31, 2021	​	​	250,000,000
Less:	​	​	​
Redemptions of Class A common stock	​	​	(232,371,273)
Plus:	​	​	​
Accretion of carrying value to redemption value	​	​	2,093,167
Extension Deposit	​	​	78,136
Class A common stock subject to possible redemption, December 31, 2022	​	$	19,800,030

Schedule of basic and diluted net (loss) income per common stock

The following table reflects the calculation of basic and diluted net income per common stock (in dollars, except share and per share amounts):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Year Ended December 31,

​

​

2022

​

2021

​

​

Class A

Class B

Class A

Class B

Basic and diluted net income per share of common stock

​

​

​

​

​

​

​

​

​

​

​

​

Numerator:

​

​

​

​

​

​

​

​

​

​

​

​

Allocation of net income

​

$

4,369,839

​

$

1,169,240

​

$

3,813,826

​

$

953,457

Denominator:

​

​

​

​

​

​

​

​

​

​

​

​

Basic and diluted weighted average shares outstanding

​

23,358,326

​

6,250,000

​

25,000,000

​

6,250,000

Basic and diluted net income per share of common stock

​

$

0.19

​

$

0.19

​

$

0.15

​

$

0.15

​

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480244/480-10-S99-1

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-Topic 210
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