A Medical Device Daily
AppliFlex (Nashville, Tennessee)), a privately held start-up company developing laser vapor deposition (LVD), technology for organic thin film applications, said today that it has received a major strategic financing round from Matsubo (Tokyo).
AppliFlex said that Matsubo had made an investment in the company, which would be used for developing company’s first prototype LVD system for organic light emitting diode (OLED) applications.
AppliFlex, which also has offices in Mountain View, California, Develops equipment and materials based on patented technology developed at Vanderbilt University (Nashville, Tennessee) for incorporating polymers, organics, and nanomaterials into electronic devices, e.g. OLED displays, solid-state lighting, flexible microelectronics, and sensors.
Invacare (Elyria, Ohio) reported that it is granting the holders of its outstanding, unregistered 9% senior notes due 2015 additional time to exchange the initial notes for its 9% senior notes due 2015.
The company said all other terms and conditions of the exchange offer remain unchanged and in full force and effect. The terms of the exchange notes are substantially identical to the terms of the initial notes for which they may be exchanged pursuant to the exchange offer.
The exchange offer, which began on May 29 and was previously set to expire this past Thursday, will now expire at 5:00 p.m., EDT, on July 12, unless extended.
As of June 28, holders of about $174 million of the total $175 million in aggregate principal amount of initial notes had tendered initial notes pursuant to the exchange offer.
Invacare makes home and long-term care medical products that promote recovery and active lifestyles.
In other financing news: Cord Blood America (Los Angeles), the umbilical cord blood stem cell preservation company, reported that $650,000 of convertible debt has been retired.
“Since the January 25, 2007 effective registration statement the holders of this convertible debt have been selling our common stock,” said Matthew Schissler, CEO. “We are well aware that this has been a significant drag on the market and we are grateful for our many investors who have patiently waited through this difficult period. We have confirmed that the holders of the debt have converted all their U.S. Securities & Exchange Commission registered debt as of June 28, 2007.”
“As we have previously stated, we intend that new debts will be serviced by cash flow from existing business or from an acquisition,” said Schissler. “We are focused on growing the business through organic growth, accretive acquisitions, and intelligent management, with the goal of becoming cash flow positive and continually improving the balance sheet.”
Cord Blood America is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Collected through a safe and non-invasive process, the company said that cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders.