RT’s Three Key Takeaways:
- Vapotherm has accomplished a merger with an entity organized and funded by Perceptive Advisors, LLC, geared toward bolstering the corporate’s monetary well being and progress technique.
- As a part of the merger, Vapotherm’s present lender, SLR Capital Companions, transformed $83 million of debt into most popular fairness, whereas Perceptive Advisors invested $50 million in new capital.
- Following the merger, Vapotherm’s frequent inventory buying and selling was suspended on OTCQX, and the corporate has requested to delist its inventory from the platform.
Vapotherm Inc, a developer and producer of respiratory expertise, introduced that it has closed a merger with a newly shaped entity organized and funded by an affiliate of Perceptive Advisors, LLC, a well being care funding agency.
In June, the corporate introduced that it had signed a definitive settlement and plan of merger with a newly shaped entity organized and funded by an affiliate of Perceptive Advisors, LLC, and its Perceptive Discovery Fund, which might end result within the firm going personal.
Vapotherm develops non-invasive applied sciences for respiratory assist of sufferers with persistent or acute respiration issues. Vapotherm’s high-velocity remedy is mask-free non-invasive respiratory assist and is a frontline instrument for relieving respiratory misery—together with hypercapnia, hypoxemia, and dyspnea.
“Vapotherm has executed a big quantity of labor so far to make sure it is ready to ship its expertise to sufferers in respiratory misery. We consider the corporate has a transparent imaginative and prescient to increase the usage of high-velocity remedy in sufferers in want and look ahead to supporting them of their subsequent phases of progress,” mentioned Konstantin Poukalov, managing director and Perceptive Discovery co-head, within the June merger announcement.
Concurrently with the entry into the definitive settlement and plan of merger, the corporate’s present lender, funding associates managed by SLR Capital Companions, agreed to transform roughly $83 million of time period debt into most popular fairness of the newly shaped entity, and Perceptive would make investments $50 million of recent most popular fairness capital into the enterprise, a portion of which might be used to fund the merger consideration and make sure closing-related funds. SLR Capital Companions would retain $40 million of time period debt post-closing.
Efficient as of the closing of the merger, buying and selling of Vapotherm’s frequent inventory has been suspended on OTCQX, and Vapotherm has requested that its frequent inventory be delisted from OTCQX.
ID 60933364 © Pichetw | Dreamstime.com
