Smith Anderson Leads Legal Team through the Aggregate $44.5 Million Transaction
RALEIGH, N.C. - TranS1 Inc. (Nasdaq:TSON), a medical device company focused on designing, developing and marketing products to treat degenerative conditions of the spine affecting the lumbar region, completed its acquisition of Baxano, Inc. (“Baxano”), a privately-held medical device company, and changed its name to Baxano Surgical, Inc. (NASDAQ: BAXS). Smith Anderson served as lead counsel on the $24.3 million acquisition and related $17.2 million PIPE financing transaction.
This complex deal involved closing the acquisition of a company, a PIPE financing and a $3.0 million credit facility all within minutes of each other. As a result, it required a tremendous amount of teamwork and collaboration across the entire spectrum of Smith Anderson’s practices. The legal team, led by Dave Clement, Jamie Hinkle, Rose Kenyon, Armand Perry, Margaret Rosenfeld and Amy Wallace, helped TranS1 achieve their corporate vision of acquiring and merging with a complementary company that would position them to continue on the path toward becoming a leader in the minimally invasive spinal procedures market.
For additional information on the transaction, you can view the announcement on the Baxano Surgical, Inc. website.
About Baxano Surgical, Inc.
Baxano Surgical, Inc. is a medical device company focused on designing, developing, and marketing products to treat degenerative conditions of the spine affecting the lumbar region. Baxano Surgical currently markets the AxiaLIF® family of products for single and two level lumbar fusion, the VEO™ lateral access and interbody fusion system, and the iO-Flex® system, a proprietary minimally invasive set of flexible instruments allowing surgeons to target lumbar spinal stenosis during spinal decompression procedures in all three regions of the spine: central canal, lateral recess, and neural foramen. Baxano Surgical was founded in May 2000 and is headquartered in Raleigh, North Carolina. For more information, visit www.baxanosurgical.com.