Rockley Photonics announces $81.5M private placement

Rockley Photonics (NYSE:RKLY) announced today that it entered into agreements for an $81.5 million private placement.

Participating investors agreed to purchase $81.5 million in convertible senior secured notes (due 2026) and warrants to purchase 26.5 million Rockley ordinary shares at an exercise price of $5 per share, subject to certain anti-dilution adjustments.

Warrants purchased in the placement will expire 10 years from the date of issuance. Oxford, England-based Rockley Photonics said in a news release that it plans to grant the initial purchasers of the notes an option to buy up to an additional $81.5 million in notes and warrants. The notes will bear cash interest at a rate of 9.5% per annum.

If Rockley elects to pay interest partially in cash and partially through the issuance of additional notes, at a rate of 5.75% payable in cash and 6.25% payable in kind through the issuance of additional notes. They will be convertible at an initial convers…

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Rockley Photonics and Medtronic to partner on wearable devices

[Image from Rockley]Rockley Photonics (NYSE:RKLY) announced today that it agreed to enter a development partnership with Medtronic (NYSE:MDT).

The two companies plan to collaborate to add Rockley’s Bioptx biomarker sensing platform to Medtronic’s offerings for use across a number of healthcare settings.

According to a news release, Rockley designed its biosensing technology to expand the capabilities of wearable medtech devices through the miniaturization of measurement and analysis for an array of biomarkers into a compact form factor.

Rockley’s technology aims to make it so a single wearable device can monitor multiple crucial biomarkers, including core body temperature, blood pressure, body hydration, alcohol, lactate, and glucose trends, among others. The Bioptx platform offers end-to-end sensing that integrates cloud analytics and artificial intelligence (AI) to potentially deliver a holistic assessment of a variety of conditions.

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Rockley Photonics goes public through SPAC deal

Rockley Photonics recently went public through a merger with a special-purpose acquisition company called SC Health Corp.

The Oxford, U.K.–based maker of silicon photonics technology started trading on the New York Stock Exchange under the symbol RKLY. It plans to use the roughly $168 million from the deal to accelerate the launch of its “clinic-on-the-wrist” digital health sensor system, which the company claims can continuously track a host of metrics including core body temperature, blood pressure, body hydration, alcohol, lactate and glucose.

Rockley Photonics has combined hardware and application firmware in a module for OEM manufacturers — with the option of adding cloud analytics for certain clinical/medical partnership applications.

“Silicon photonics has tremendous potential to transform multiple industries through a broad range of applications, particularly in the health and wellness space by bringing laboratory-grade measurement on the wrist m…

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Apple Watch may someday detect blood sugar, blood pressure levels

Rockley Photonics indicated in an SEC filing that it may work with Apple in the future to introduce new monitoring functions to the Apple Watch.

The Telegraph first reported on the filing, which indicated that the company’s operating financial results will depend on revenue that is attributable to a few of its large customers, including Apple — its largest.

“Rockley has a master supply and development agreement with this customer, which provides a general framework for Rockley’s transactions with it,” the filing said. “This agreement continues until either party terminates for material breach. Under this agreement, Rockley has agreed to develop and deliver new products to this customer at its request, provided it also meets Rockley’s business purposes, and has agreed to indemnify it for intellectual property infringement or any injury or damages caused by Rockley’s products.”

The filing details the United Kingdom-based compa…

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