ASHEVILLE, N.C., May 01, 2018 (GLOBE NEWSWIRE) — Avadim Technologies Inc. (“Avadim”), the Bionome TherapiesTM life sciences company, is pleased to announce that it has closed an equity and debt financing round with gross proceeds of approximately $17 million. ASGARD Partners & Co. (“ASGARD”) served as the Company’s exclusive financial advisor on the transaction, helping structure an investment that was led by a consortium of institutional and high net worth investors. Both existing and new investors participated in the deal.
Steve Woody, Chairman and CEO of Avadim, stated, “The financing represents the accomplishment of a major milestone in our overall capitalization plan. The company intends to utilize the net proceeds from this financing round primarily to invest in sales and marketing to drive execution and continue to accelerate our impressive growth trajectory. We would like to thank ASGARD for their relentless support in helping us manage the process to close this transaction. ASGARD’s strong understanding of the life sciences sector and its ability to help navigate structuring and financial challenges resulted in a great outcome for all parties. A special thanks to our shareholders, because without their generous support, none of this would be possible.”
“We are honored to represent Avadim in this process and help them reach this important milestone. This funding enables Avadim to broaden its reach as it strives to address significant unmet health needs in hospitals and for consumers with its revolutionary technology platform. We look forward to a continued partnership with Steve and his stellar management team,” said Nicholas Desjardins, Partner & Head of Advisory Services at ASGARD.
About Avadim Technologies Inc.:
Based in Asheville, NC, Avadim is a rapidly growing life sciences company built around the concept of serving. With a mission to change lives and transform communities, Avadim identifies unmet needs and addresses them in a way nobody else has. The company offers a portfolio of advanced, safe solutions and has a strong pipeline across a broad range of health and wellness areas.
ASGARD Partners & Co. is a next generation financial firm combining private equity investments and capital markets advisory into one platform to better and more effectively serve portfolio companies, clients and investors. ASGARD believes business is a powerful platform that can change the world for the better and is committed to serving entrepreneurs, companies, and investors that share this belief. The partners at ASGARD have collectively arranged and advised on more than $65 billion in transactions and have proven expertise across a wide spectrum of advisory services. ASGARD brings multi-functional capabilities to its clients and enables them to navigate their capital and growth decisions effectively. For more information, visit https://asgardpartners.com.
Avadim Technologies Inc. Contacts:
David Fann, President
Joe McGuire, Chief Financial Officer
Avadim Technologies Inc.
81 Thompson Street
Asheville, NC 28803