AVADIM TECHNOLOGIES INC. INKS $14 MILLION INSTITUTIONAL FINANCING TERM SHEET TO CONTINUE ACCELERATION OF ITS BUSINESS PLAN
Asheville, NC (November 13, 2017)—Avadim Technologies Inc. (“Avadim”), the Bionome Therapies™ life sciences company, today announced the execution of a $14 million private financing term sheet with GPB Debt Holdings II, LLC (“GPB”), an institutional investor located in New York, NY, subject to customary due diligence and closing conditions.Both Avadim and the GPB are working to sign a definitive agreement and close the transaction with an anticipated closing of December 15th, 2017. This term sheet also allows Avadim to raise an additional $5 million from other sources.
Steve Woody, the CEO of Avadim, said “We are pleased to be in partnership with GPB, who will be providing Avadim the additional capital to accelerate the development of the company’s innovative technology platform and expand our sales efforts. Having an institutional investor achieves another milestone for the company and its plan to go public.”
About Avadim Technologies Inc.
Based in Asheville NC, Avadim Technologies, Inc. is the Bionome Life Science company. Avadim’s patented platform technology drives the company’s development and marketing of topical, low pH, microbiome-compliant formulations which address multiple applications in both clinical patient care and consumer health. Our innovative approaches to neuromuscular health and performance, and to multiple skin-related patient care challenges, are safe, non-centrally acting, and cost effective, and are changing markets and improving lives.
Avadim Technologies Inc. Contacts:
David Fann, President
Joe McGuire, Chief Financial Officer
Avadim Technologies Inc.
81 Thompson Street
Asheville, NC 28803
KCSA Strategic Communications
Kel & Partners
O: 617.904.9393, ext. 151