Ropes & Gray represented Vapotherm, Inc. in a definitive merger agreement with a newly-formed entity organized and funded by an affiliate of Perceptive Advisors, LLC, a leading health care investment firm, and its Perceptive Discovery Fund.
In conjunction with the execution of the final merger agreement, investment affiliates under the management of SLR Capital Partners, the firm’s current lender, have made a decision to transform around $81.0 million of term debt into preferred equity of the recently established entity. Additionally, Perceptive will inject $50.0 million of fresh preferred equity capital into the company, a portion of which will be utilized to finance the merger consideration and cover specific payments related to the closing process. SLR will maintain $40.0 million of term debt.
Vapotherm, headquartered in Exeter, New Hampshire, USA, is a publicly traded company specializing in the development and production of advanced respiratory technology. The company focuses on creating non-invasive technologies to provide respiratory support for patients suffering from chronic or acute breathing disorders.
The Ropes & Gray team included mergers & acquisition partner Sarah Young, employment partner Renata Ferrari, tax partner Alyssa Kollmeyer, and IP transactions partner Raj Banerjee.