, /PRNewswire/ -- Vapotherm, Inc. (OTCQX: ), ("Vapotherm" or the "Company"), announced today that it has signed 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 ("Perceptive"), and its Perceptive Discovery Fund. Concurrently with the entry into the definitive merger agreement, our existing lender, investment affiliates managed by SLR Capital Partners ("SLR") have agreed to convert approximately of term debt into preferred equity of the newly-formed entity, and Perceptive will invest of new preferred equity capital into the business, a portion of which will be used to fund the merger consideration and make certain closing-related payments.
SLR will retain of term debt. "We are excited to continue our partnership with Vapotherm as they progress on their Path to Profitability. This transaction allows the Company to strengthen their balance sheet as they focus on accelerating their revenue momentum," said , Head of Life Science Finance at SLR Capital Partners.
"Vapotherm has done a significant amount of work to date to ensure it is able to deliver its technology to patients in respiratory distress. We believe the Company has a clear vision to expand the use of high-velocity therapy in patients in need and look forward to supporting them in their next stages of growth," said Konstantin Poukalov, Managing Director and Perceptive Discovery Co-Head. Under the terms of the d.
