Sanuwave Health (OTC:SNWV) announced that it completed its acquisition of Celularity’s UltraMist ultrasound healing therapy platform.
In June, the companies announced an exclusive agreement for the purchase, which includes exclusive partnership rights for Celularity’s wound care biologic products. Celularity develops allogeneic cellular therapies engineered from postpartum human placenta, in cancer, infectious disease and degenerative disease.
Along with the products, the announcement claimed that 25 wound care professionals would be set to join Sanuwave from Celularity.
Funding for the acquisition included 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, with over 60% purchased by existing investors and insiders, according to a news release.
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, while William Blair & Company acted as the sole placement agent of the debt financing.