Niederer Kraft Frey AG | View firm profile
Niederer Kraft Frey advised SpineArt on its CHF 20 million convertible financing.
The funding of SpineArt, one of the fastest growing spine companies, comes on the heels of the completion of enrollment in the two Baguera® C IDE studies, underlining SpineArt’s commitment to advancing spinal surgery through large scale investments in research and development.
More than CHF 15 million was contributed by existing shareholders and employees, with the remaining portion sourced from new investors, above the CHF 20 million initial target.
The proceeds from the financing will be used for several strategic initiatives. These include investments in novel enabling technologies, continued follow-up of patients enrolled in the two Baguera® C IDE studies, completion by the end of 2024 of a new 43,000 sqft / 4,300 m2 factory currently under construction near Geneva, Switzerland and the opening this summer of SpineArt’s new R&D and Training Center for Enabling Technologies in Dallas, Texas.
The NKF team was led by Corporate/M&A partner Jacques Bonvin and M&A/Finance partner Philip Spoerlé, working with associate Selim Lötscher (M&A/Finance), as well as partner Markus Kronauer and senior associate Sven Kälin (both Tax).