Business
SANUWAVE Health Completes Acquisition of the Wound Care Assets of Celularity
Conference Call Scheduled for Wednesday 1:00 p.m. EDT SUWANEE, GA, Aug. 10, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SANUWAVE Health, Inc. (OTCQB: SNWV)
About this update from Sanuwave Health, Inc.
[{"type":"text","content":"\n Conference Call Scheduled for Wednesday 1:00 p.m. EDT SUWANEE, GA, Aug. 10, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SANUWAVE Health, Inc. (OTCQB: SNWV) today announced that it has completed the acquisition of the wound care assets of Celularity, consisting of the UltraMIST® Ultrasound Healing Therapy assets and partnership rights for Celularity’s wound care biologic products. The funding for the acquisition consisted of a mix of funded term debt, a seller note, and equity in the form of a private placement. The private placement generated gross proceeds of approximately $24 million through the issuance of 119,125,000 shares of common stock and accompanying warrants to purchase up to an equal number of shares of common stock at a purchase price of $0.20 per share of common stock and accompanying warrants. The warrants will be exercisable immediately at an exercise price of $0.25 per share and will expire three years after the date of issuance. Over 60% of the private placement was purchased by existing investors and insiders, and the remainder was purchased by certain healthcare focused institutional and accredited investors. H.C. Wainwright & Co. acted as the exclusive placement agent for the private placement. Lake Street Capital Markets acted as financial advisor for the acquisition and the private placement. William Blair & Company acted as the sole placement agent of the debt financing. The acquisition is expected to be a transformative event for SANUWAVE and represents a strategically and financially compelling growth opportunity for the company. The transaction broadens SANUWAVE’s addressable market and combines two highly complementary energy transfer technologies with two biologic skin substitute products to create a platform of scale with an end-to-end product offering in the advanced wound care market. Furthermore, it uniquely positions SANUWAVE to address the entire advanced wound care patient pathway from the initial stages of treatment to closure. The treatment combination of the UltraMIST® and the dermaPACE® System creates a significant opportunity to demonstrate improved patient outcomes over the current standard of care, initially for diabetic foot ulcers and across all wound indications in the future. SANUWAVE will conduct an investor teleconference at 1:00 p.m. EDT on Wednesday, August 12, 2020. A separ...