Source: Amedica Corporation
Amedica Corporation (
AMDA),
an innovative biomaterial company which develops and manufactures
silicon nitride as a platform for biomedical applications, announced
today that it has entered into definitive agreements with institutional
investors to raise up to $15.0 million in a concurrent registered direct
offering of common stock and Series B Warrants and private placement of
Series A Warrants and Series C Warrants.
As part of
this transaction, the Company has entered into a settlement agreement
with MG Partners II, Ltd. (“Magna”) as well as amended its loan
agreements with Hercules Technology Growth Capital, Inc. (“Hercules”).
The settlement agreement with Magna provides for the withdrawal of a
previously issued default notice and permanent waivers of any
contractual rights, including but not limited to any convertible
features associated with Magna’s convertible debentures. As part of the
Hercules amended loan agreement, Hercules has also withdrawn its
previously issued default notice and agreed to reduce the Company’s
financial cash covenant as the loan is paid, which should provide for
additional financial flexibility in the future.
This
transaction is expected to execute in three equal tranches. The first
tranche is a registered direct offering of 13,123,360 shares of common
stock and Series B Warrants to purchase 13,123,360 shares of common
stock for a price of $0.381 per share of Common Stock and Series B
Warrant. The Series B Warrants have an exercise price of $0.47 and shall
be exercisable up to December 30, 2015. The first tranche also includes
a concurrent private placement of Series A Warrants and Series C
Warrants, each to purchase 13,123,360 shares of common stock. The
Series A Warrants have an exercise price of $0.47 and shall be
exercisable for a period of 5.5 years. The Series C Warrants have an
exercise price of $0.47 and shall be exercisable up to December 30,
2015. The Company expects to receive proceeds of approximately $5.0
Million from this first tranche, which is expected to close on September
11, 2015. The exercise of both the Series B Warrants and the Series C
Warrants may occur automatically under certain conditions and is subject
to shareholder approval. The number of shares issuable upon the
exercise of the Series A Warrants, Series B Warrants and Series C
Warrants may increase under certain circumstances. The second and third
tranches of the transaction is the exercise of the Series B Warrants and
Series C Warrants for an additional $10.0 million. For further
information on the transaction, please review the transaction documents
filed today with the Company’s Current Report on Form 8-K.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (
LTS), is acting as exclusive placement agent in connection with the transaction.
The
shares of common stock and Series B Warrants are being offered by
Amedica pursuant to a shelf registration statement on Form S-3 (file no.
333-205545) filed pursuant to the Securities Act of 1933, which was
previously filed with, and declared effective by, the Securities and
Exchange Commission (SEC). A prospectus supplement relating to the
offering will be filed with the SEC and will be available on the SEC's
website at http://www.sec.gov.
About Amedica Corporation
Amedica
is focused on the development and application of medical-grade silicon
nitride ceramics. Amedica markets spinal fusion products and is
developing a new generation of wear- and corrosion-resistant implant
components for hip and knee arthroplasty. The Company manufactures its
products in its ISO 13485 certified manufacturing facility and, through
its partnership with Kyocera, the world's largest ceramic manufacturer.
Amedica's spine products are FDA-cleared, CE-marked, and are currently
marketed in the U.S. and select markets in Europe and South America
through its distributor network and its growing OEM partnerships.
For more information on Amedica or its silicon nitride material platform, please visit
www.amedica.com.
Amedica Corporation (Nasdaq:
AMDA),
an innovative biomaterial company which develops and manufactures
silicon nitride as a platform for biomedical applications, announced
today that it has entered into definitive agreements with institutional
investors to raise up to $15.0 million in a concurrent registered direct
offering of common stock and Series B Warrants and private placement of
Series A Warrants and Series C Warrants.
As part of this
transaction, the Company has entered into a settlement agreement with MG
Partners II, Ltd. (“Magna”) as well as amended its loan agreements with
Hercules Technology Growth Capital, Inc. (“Hercules”). The settlement
agreement with Magna provides for the withdrawal of a previously issued
default notice and permanent waivers of any contractual rights,
including but not limited to any convertible features associated with
Magna’s convertible debentures. As part of the Hercules amended loan
agreement, Hercules has also withdrawn its previously issued default
notice and agreed to reduce the Company’s financial cash covenant as the
loan is paid, which should provide for additional financial flexibility
in the future.
This transaction is expected to execute in three
equal tranches. The first tranche is a registered direct offering of
13,123,360 shares of common stock and Series B Warrants to purchase
13,123,360 shares of common stock for a price of $0.381 per share of
Common Stock and Series B Warrant. The Series B Warrants have an
exercise price of $0.47 and shall be exercisable up to December 30,
2015. The first tranche also includes a concurrent private placement of
Series A Warrants and Series C Warrants, each to purchase 13,123,360
shares of common stock. The Series A Warrants have an exercise price of
$0.47 and shall be exercisable for a period of 5.5 years. The Series C
Warrants have an exercise price of $0.47 and shall be exercisable up to
December 30, 2015. The Company expects to receive proceeds of
approximately $5.0 Million from this first tranche, which is expected to
close on September 11, 2015. The exercise of both the Series B
Warrants and the Series C Warrants may occur automatically under certain
conditions and is subject to shareholder approval. The number of
shares issuable upon the exercise of the Series A Warrants, Series B
Warrants and Series C Warrants may increase under certain circumstances.
The second and third tranches of the transaction is the exercise of the
Series B Warrants and Series C Warrants for an additional $10.0
million. For further information on the transaction, please review the
transaction documents filed today with the Company’s Current Report on
Form 8-K.
Ladenburg Thalmann & Co. Inc., a subsidiary of
Ladenburg Thalmann Financial Services Inc. (NYSEMKT:LTS), is acting as
exclusive placement agent in connection with the transaction.
The
shares of common stock and Series B Warrants are being offered by
Amedica pursuant to a shelf registration statement on Form S-3 (file no.
333-205545) filed pursuant to the Securities Act of 1933, which was
previously filed with, and declared effective by, the Securities and
Exchange Commission (SEC). A prospectus supplement relating to the
offering will be filed with the SEC and will be available on the SEC's
website at http://www.sec.gov.
This press release shall not
constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
any such jurisdiction.
About Amedica Corporation
Amedica
is focused on the development and application of medical-grade silicon
nitride ceramics. Amedica markets spinal fusion products and is
developing a new generation of wear- and corrosion-resistant implant
components for hip and knee arthroplasty. The Company manufactures its
products in its ISO 13485 certified manufacturing facility and, through
its partnership with Kyocera, the world's largest ceramic manufacturer.
Amedica's spine products are FDA-cleared, CE-marked, and are currently
marketed in the U.S. and select markets in Europe and South America
through its distributor network and its growing OEM partnerships.
-
See more at:
http://globenewswire.com/news-release/2015/09/08/766672/0/en/Amedica-Enters-Into-Definitive-Agreements-to-Raise-15-0-Million-in-Equity-Financing.html#sthash.w0954zP1.dpuf
Amedica Corporation (Nasdaq:
AMDA),
an innovative biomaterial company which develops and manufactures
silicon nitride as a platform for biomedical applications, announced
today that it has entered into definitive agreements with institutional
investors to raise up to $15.0 million in a concurrent registered direct
offering of common stock and Series B Warrants and private placement of
Series A Warrants and Series C Warrants.
As part of this
transaction, the Company has entered into a settlement agreement with MG
Partners II, Ltd. (“Magna”) as well as amended its loan agreements with
Hercules Technology Growth Capital, Inc. (“Hercules”). The settlement
agreement with Magna provides for the withdrawal of a previously issued
default notice and permanent waivers of any contractual rights,
including but not limited to any convertible features associated with
Magna’s convertible debentures. As part of the Hercules amended loan
agreement, Hercules has also withdrawn its previously issued default
notice and agreed to reduce the Company’s financial cash covenant as the
loan is paid, which should provide for additional financial flexibility
in the future.
This transaction is expected to execute in three
equal tranches. The first tranche is a registered direct offering of
13,123,360 shares of common stock and Series B Warrants to purchase
13,123,360 shares of common stock for a price of $0.381 per share of
Common Stock and Series B Warrant. The Series B Warrants have an
exercise price of $0.47 and shall be exercisable up to December 30,
2015. The first tranche also includes a concurrent private placement of
Series A Warrants and Series C Warrants, each to purchase 13,123,360
shares of common stock. The Series A Warrants have an exercise price of
$0.47 and shall be exercisable for a period of 5.5 years. The Series C
Warrants have an exercise price of $0.47 and shall be exercisable up to
December 30, 2015. The Company expects to receive proceeds of
approximately $5.0 Million from this first tranche, which is expected to
close on September 11, 2015. The exercise of both the Series B
Warrants and the Series C Warrants may occur automatically under certain
conditions and is subject to shareholder approval. The number of
shares issuable upon the exercise of the Series A Warrants, Series B
Warrants and Series C Warrants may increase under certain circumstances.
The second and third tranches of the transaction is the exercise of the
Series B Warrants and Series C Warrants for an additional $10.0
million. For further information on the transaction, please review the
transaction documents filed today with the Company’s Current Report on
Form 8-K.
Ladenburg Thalmann & Co. Inc., a subsidiary of
Ladenburg Thalmann Financial Services Inc. (NYSEMKT:LTS), is acting as
exclusive placement agent in connection with the transaction.
The
shares of common stock and Series B Warrants are being offered by
Amedica pursuant to a shelf registration statement on Form S-3 (file no.
333-205545) filed pursuant to the Securities Act of 1933, which was
previously filed with, and declared effective by, the Securities and
Exchange Commission (SEC). A prospectus supplement relating to the
offering will be filed with the SEC and will be available on the SEC's
website at http://www.sec.gov.
This press release shall not
constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
any such jurisdiction.
About Amedica Corporation
Amedica
is focused on the development and application of medical-grade silicon
nitride ceramics. Amedica markets spinal fusion products and is
developing a new generation of wear- and corrosion-resistant implant
components for hip and knee arthroplasty. The Company manufactures its
products in its ISO 13485 certified manufacturing facility and, through
its partnership with Kyocera, the world's largest ceramic manufacturer.
Amedica's spine products are FDA-cleared, CE-marked, and are currently
marketed in the U.S. and select markets in Europe and South America
through its distributor network and its growing OEM partnerships.
-
See more at:
http://globenewswire.com/news-release/2015/09/08/766672/0/en/Amedica-Enters-Into-Definitive-Agreements-to-Raise-15-0-Million-in-Equity-Financing.html#sthash.w0954zP1.dpuf
Amedica Corporation (Nasdaq:
AMDA),
an innovative biomaterial company which develops and manufactures
silicon nitride as a platform for biomedical applications, announced
today that it has entered into definitive agreements with institutional
investors to raise up to $15.0 million in a concurrent registered direct
offering of common stock and Series B Warrants and private placement of
Series A Warrants and Series C Warrants.
As part of this
transaction, the Company has entered into a settlement agreement with MG
Partners II, Ltd. (“Magna”) as well as amended its loan agreements with
Hercules Technology Growth Capital, Inc. (“Hercules”). The settlement
agreement with Magna provides for the withdrawal of a previously issued
default notice and permanent waivers of any contractual rights,
including but not limited to any convertible features associated with
Magna’s convertible debentures. As part of the Hercules amended loan
agreement, Hercules has also withdrawn its previously issued default
notice and agreed to reduce the Company’s financial cash covenant as the
loan is paid, which should provide for additional financial flexibility
in the future.
This transaction is expected to execute in three
equal tranches. The first tranche is a registered direct offering of
13,123,360 shares of common stock and Series B Warrants to purchase
13,123,360 shares of common stock for a price of $0.381 per share of
Common Stock and Series B Warrant. The Series B Warrants have an
exercise price of $0.47 and shall be exercisable up to December 30,
2015. The first tranche also includes a concurrent private placement of
Series A Warrants and Series C Warrants, each to purchase 13,123,360
shares of common stock. The Series A Warrants have an exercise price of
$0.47 and shall be exercisable for a period of 5.5 years. The Series C
Warrants have an exercise price of $0.47 and shall be exercisable up to
December 30, 2015. The Company expects to receive proceeds of
approximately $5.0 Million from this first tranche, which is expected to
close on September 11, 2015. The exercise of both the Series B
Warrants and the Series C Warrants may occur automatically under certain
conditions and is subject to shareholder approval. The number of
shares issuable upon the exercise of the Series A Warrants, Series B
Warrants and Series C Warrants may increase under certain circumstances.
The second and third tranches of the transaction is the exercise of the
Series B Warrants and Series C Warrants for an additional $10.0
million. For further information on the transaction, please review the
transaction documents filed today with the Company’s Current Report on
Form 8-K.
Ladenburg Thalmann & Co. Inc., a subsidiary of
Ladenburg Thalmann Financial Services Inc. (NYSEMKT:LTS), is acting as
exclusive placement agent in connection with the transaction.
The
shares of common stock and Series B Warrants are being offered by
Amedica pursuant to a shelf registration statement on Form S-3 (file no.
333-205545) filed pursuant to the Securities Act of 1933, which was
previously filed with, and declared effective by, the Securities and
Exchange Commission (SEC). A prospectus supplement relating to the
offering will be filed with the SEC and will be available on the SEC's
website at http://www.sec.gov.
This press release shall not
constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
any such jurisdiction.
About Amedica Corporation
Amedica
is focused on the development and application of medical-grade silicon
nitride ceramics. Amedica markets spinal fusion products and is
developing a new generation of wear- and corrosion-resistant implant
components for hip and knee arthroplasty. The Company manufactures its
products in its ISO 13485 certified manufacturing facility and, through
its partnership with Kyocera, the world's largest ceramic manufacturer.
Amedica's spine products are FDA-cleared, CE-marked, and are currently
marketed in the U.S. and select markets in Europe and South America
through its distributor network and its growing OEM partnerships.
-
See more at:
http://globenewswire.com/news-release/2015/09/08/766672/0/en/Amedica-Enters-Into-Definitive-Agreements-to-Raise-15-0-Million-in-Equity-Financing.html#sthash.w0954zP1.dpuf
Amedica Corporation (Nasdaq:
AMDA),
an innovative biomaterial company which develops and manufactures
silicon nitride as a platform for biomedical applications, announced
today that it has entered into definitive agreements with institutional
investors to raise up to $15.0 million in a concurrent registered direct
offering of common stock and Series B Warrants and private placement of
Series A Warrants and Series C Warrants.
As part of this
transaction, the Company has entered into a settlement agreement with MG
Partners II, Ltd. (“Magna”) as well as amended its loan agreements with
Hercules Technology Growth Capital, Inc. (“Hercules”). The settlement
agreement with Magna provides for the withdrawal of a previously issued
default notice and permanent waivers of any contractual rights,
including but not limited to any convertible features associated with
Magna’s convertible debentures. As part of the Hercules amended loan
agreement, Hercules has also withdrawn its previously issued default
notice and agreed to reduce the Company’s financial cash covenant as the
loan is paid, which should provide for additional financial flexibility
in the future.
This transaction is expected to execute in three
equal tranches. The first tranche is a registered direct offering of
13,123,360 shares of common stock and Series B Warrants to purchase
13,123,360 shares of common stock for a price of $0.381 per share of
Common Stock and Series B Warrant. The Series B Warrants have an
exercise price of $0.47 and shall be exercisable up to December 30,
2015. The first tranche also includes a concurrent private placement of
Series A Warrants and Series C Warrants, each to purchase 13,123,360
shares of common stock. The Series A Warrants have an exercise price of
$0.47 and shall be exercisable for a period of 5.5 years. The Series C
Warrants have an exercise price of $0.47 and shall be exercisable up to
December 30, 2015. The Company expects to receive proceeds of
approximately $5.0 Million from this first tranche, which is expected to
close on September 11, 2015. The exercise of both the Series B
Warrants and the Series C Warrants may occur automatically under certain
conditions and is subject to shareholder approval. The number of
shares issuable upon the exercise of the Series A Warrants, Series B
Warrants and Series C Warrants may increase under certain circumstances.
The second and third tranches of the transaction is the exercise of the
Series B Warrants and Series C Warrants for an additional $10.0
million. For further information on the transaction, please review the
transaction documents filed today with the Company’s Current Report on
Form 8-K.
Ladenburg Thalmann & Co. Inc., a subsidiary of
Ladenburg Thalmann Financial Services Inc. (NYSEMKT:LTS), is acting as
exclusive placement agent in connection with the transaction.
The
shares of common stock and Series B Warrants are being offered by
Amedica pursuant to a shelf registration statement on Form S-3 (file no.
333-205545) filed pursuant to the Securities Act of 1933, which was
previously filed with, and declared effective by, the Securities and
Exchange Commission (SEC). A prospectus supplement relating to the
offering will be filed with the SEC and will be available on the SEC's
website at http://www.sec.gov.
This press release shall not
constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
any such jurisdiction.
About Amedica Corporation
Amedica
is focused on the development and application of medical-grade silicon
nitride ceramics. Amedica markets spinal fusion products and is
developing a new generation of wear- and corrosion-resistant implant
components for hip and knee arthroplasty. The Company manufactures its
products in its ISO 13485 certified manufacturing facility and, through
its partnership with Kyocera, the world's largest ceramic manufacturer.
Amedica's spine products are FDA-cleared, CE-marked, and are currently
marketed in the U.S. and select markets in Europe and South America
through its distributor network and its growing OEM partnerships.
-
See more at:
http://globenewswire.com/news-release/2015/09/08/766672/0/en/Amedica-Enters-Into-Definitive-Agreements-to-Raise-15-0-Million-in-Equity-Financing.html#sthash.w0954zP1.dpuf
Amedica Corporation (Nasdaq:
AMDA),
an innovative biomaterial company which develops and manufactures
silicon nitride as a platform for biomedical applications, announced
today that it has entered into definitive agreements with institutional
investors to raise up to $15.0 million in a concurrent registered direct
offering of common stock and Series B Warrants and private placement of
Series A Warrants and Series C Warrants.
As part of this
transaction, the Company has entered into a settlement agreement with MG
Partners II, Ltd. (“Magna”) as well as amended its loan agreements with
Hercules Technology Growth Capital, Inc. (“Hercules”). The settlement
agreement with Magna provides for the withdrawal of a previously issued
default notice and permanent waivers of any contractual rights,
including but not limited to any convertible features associated with
Magna’s convertible debentures. As part of the Hercules amended loan
agreement, Hercules has also withdrawn its previously issued default
notice and agreed to reduce the Company’s financial cash covenant as the
loan is paid, which should provide for additional financial flexibility
in the future.
This transaction is expected to execute in three
equal tranches. The first tranche is a registered direct offering of
13,123,360 shares of common stock and Series B Warrants to purchase
13,123,360 shares of common stock for a price of $0.381 per share of
Common Stock and Series B Warrant. The Series B Warrants have an
exercise price of $0.47 and shall be exercisable up to December 30,
2015. The first tranche also includes a concurrent private placement of
Series A Warrants and Series C Warrants, each to purchase 13,123,360
shares of common stock. The Series A Warrants have an exercise price of
$0.47 and shall be exercisable for a period of 5.5 years. The Series C
Warrants have an exercise price of $0.47 and shall be exercisable up to
December 30, 2015. The Company expects to receive proceeds of
approximately $5.0 Million from this first tranche, which is expected to
close on September 11, 2015. The exercise of both the Series B
Warrants and the Series C Warrants may occur automatically under certain
conditions and is subject to shareholder approval. The number of
shares issuable upon the exercise of the Series A Warrants, Series B
Warrants and Series C Warrants may increase under certain circumstances.
The second and third tranches of the transaction is the exercise of the
Series B Warrants and Series C Warrants for an additional $10.0
million. For further information on the transaction, please review the
transaction documents filed today with the Company’s Current Report on
Form 8-K.
Ladenburg Thalmann & Co. Inc., a subsidiary of
Ladenburg Thalmann Financial Services Inc. (NYSEMKT:LTS), is acting as
exclusive placement agent in connection with the transaction.
The
shares of common stock and Series B Warrants are being offered by
Amedica pursuant to a shelf registration statement on Form S-3 (file no.
333-205545) filed pursuant to the Securities Act of 1933, which was
previously filed with, and declared effective by, the Securities and
Exchange Commission (SEC). A prospectus supplement relating to the
offering will be filed with the SEC and will be available on the SEC's
website at http://www.sec.gov.
This press release shall not
constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
any such jurisdiction.
About Amedica Corporation
Amedica
is focused on the development and application of medical-grade silicon
nitride ceramics. Amedica markets spinal fusion products and is
developing a new generation of wear- and corrosion-resistant implant
components for hip and knee arthroplasty. The Company manufactures its
products in its ISO 13485 certified manufacturing facility and, through
its partnership with Kyocera, the world's largest ceramic manufacturer.
Amedica's spine products are FDA-cleared, CE-marked, and are currently
marketed in the U.S. and select markets in Europe and South America
through its distributor network and its growing OEM partnerships.
-
See more at:
http://globenewswire.com/news-release/2015/09/08/766672/0/en/Amedica-Enters-Into-Definitive-Agreements-to-Raise-15-0-Million-in-Equity-Financing.html#sthash.w0954zP1.dpuf
