Baxano Surgical Completes Financing and Continues

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
Baxano Surgical Completes Financing and Continues Streamlined Business Operations

RALEIGH, N.C., Sept. 25, 2014 (GLOBE NEWSWIRE) -- Baxano Surgical, Inc. (Nasdaq: BAXS ), a medical device company focused on designing, developing and marketing minimally invasive products to treat degenerative conditions of the lumbar spine, announced that the Company has completed a recent subordinated convertible note financing of approximately $1.5 million to extend its cash runway. In connection with the financing, the Company has also streamlined its business to reduce its operating expenses while maintaining its commercial operations. 

"We have been able to complete a needed financing that, together with the restructuring of our operations, gives us a cash runway to continue to pursue our strategic alternatives with Houlihan Lokey," stated Ken Reali, President and CEO of Baxano Surgical.

There can be no assurance that Baxano Surgical will enter into any strategic transaction as a result of this process. Baxano Surgical does not plan to disclose or comment on developments regarding its strategic alternatives review process until further disclosure is deemed necessary or appropriate.

About Baxano Surgical, Inc.

Baxano Surgical, Inc. is a medical device company focused on designing, developing, and marketing minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region. Baxano Surgical currently markets the AxiaLIF ® family of products for single and two level lower lumbar fusion, the VEO ® lateral access and interbody fusion system featuring the REVEAL retractor ® ,  the iO-Flex ® system, a proprietary set of flexible instruments used by surgeons during spinal decompression procedures, the iO-Tome ® instrument, which rapidly and precisely removes bone, specifically the facet joints, which is commonly performed in spinal fusion procedures and Avance, an MIS pedicle screw system used in lumbar fusion procedures. Baxano Surgical was founded in May 2000 and is headquartered in Raleigh, North Carolina. For more information, visit www.baxanosurgical.com .

AxiaLIF, VEO, REVEAL, iO-Tome and iO-Flex are all registered trademarks of Baxano Surgical.

Baxano Surgical Inc. Tim Shannon, Chief Financial Officer 919-926-8762 or Stonegate, Inc. Casey Stegman 214-987-4121

Scroll down for more posts ▼

Top 10 Most Recent News Articles

California Accelerates AI Law with Newsom's Bold Move

Updated Category News Views 3

Pushing AI Regulations into High Gear I'll tell you what—it's about time somebody shook things up in the AI world with more than empty promises. Governor Newsom's executive order is doing just that, fast-tracking the timeline for implementing California's SB 813. This move is like giving speed boots to the legislative process, revving up the rules to ensure AI doesn't...

Continue Reading
No Dogs Left Behind Marks Decade of Life-Saving Work

Updated Category News Views 4

A Decade of Dedication Some stories out there bring a much-needed shine to the otherwise relentless grind, and this is one of those rare gems. No Dogs Left Behind (NDLB) is celebrating a monumental milestone: ten years into their mission, they've crossed the incredible threshold of saving over 10,000 dogs from the clutches of slaughterhouses in East Asia. The nonprofit...

Continue Reading
Wounded Warrior Project Honors Veterans at Gala Dinner

Updated Category News Views 4

Wounded Warriors Gala: A Night of Heroic Honors In the swirling hum of Washington's gala scene, the Wounded Warrior Project (WWP) cuts through the noise with a sharp and poignant reminder of patriotism and community support. Their Courage Awards & Benefit Dinner®, pumped with the gravitas of corporate backing from the likes of Goldman Sachs, showcased a heartfelt...

Continue Reading
Sierra Ridge Advisors Join Gateway Financial Milestone

Updated Category News Views 5

Big Moves in the Financial Advisory World Let's dive right in. Here's a real shakeup in the advisory realm: 28 financial advisors and team members from Sierra Ridge Advisor Group are packing their bags for Gateway Financial Partners. We're talking about a significant shift involving $825 million in assets under advisement. Instead of sticking with Sierra Ridge as it...

Continue Reading
IRS Views Challenge Tax-Engineered Healthcare Schemes

Updated Category News Views 4

Nonprofit Models Shine Amid IRS Scrutiny Out in Oxnard, California, there's a brewing storm in the healthcare sector. No, it's not a billing error or yet another scandal. We're talking about a seismic shift that could poke holes in those tax-engineered Section 105(b) programs, all thanks to some hard-hitting IRS memoranda. The Nonprofit–TPA Model: A Safer Bet? Enter...

Continue Reading
Kobold Press Explores Roleplaying as Literacy Tool

Updated Category News Views 2

Gaming Illuminates Pathways to Literacy and Community Trust me, when an indie game publisher like Kobold Press makes waves, it's worth paying attention. They've carved a niche in the roleplaying world by marrying traditional game elements with valuable educational tools. The thrill of the game goes beyond rolling dice; it's a ticket to improving literacy, arithmetic, and...

Continue Reading
Crimson Coward's Cheez Nugs Shake Up Fast-Casual Scene

Updated Category News Views 7

New Kid on the Block: Cheez Nugs Buckle up folks, Crimson Coward is at it again. They're rolling out something they claim will blow your taste buds straight out of the water: Cheez Nugs. Dropping nationwide on September 18, 2026, these aren't your run-of-the-mill cheese bites. We're talking 100% whole-milk mozzarella, a golden herb-seasoned crust, and a mouthful of creamy...

Continue Reading
Chattanooga: A New Epicenter for Quantum Computing

Updated Category News Views 3

Quantum Leap: Chattanooga's Bold Move So Chattanooga’s making waves again, folks. EPB just unveiled its new big shot, the IonQ Forte Enterprise quantum computer. That's right, they’ve slapped a commercial quantum computer and a networking hub together, right here in this Tennessee city. Is this a tech haven or what? Not to mention, it’s the first in America. A New...

Continue Reading
Heafner Takes Helm at HGTC Amid Strategic Shifts

Updated Category News Views 2

A New Era for HGTC with Dr. Heafner at the Wheel Out of the frying pan and into the fire—Dr. Lori Heafner is stepping up to lead Horry-Georgetown Technical College (HGTC) with a clean slate and a hefty load of responsibility come January 2027. After enduring an intense national search by the Area Commission, she beat out tough competition to earn the role. It's not just...

Continue Reading
Digital Wine Atlas Maps 4.3 Million Vineyards Globally

Updated Category News Views 4

Revolutionizing Viticulture with Data In today's wild world, climate change isn't just shifting weather patterns—it's upending the age-old map of wine-making regions. We've got a new player on the field: the World Winery Map. It's digital, massive, and it’s shaking things up for winemakers and grape enthusiasts alike. This platform covers a staggering 4.3 million...

Continue Reading

Top 5 Most Recently Viewed Articles

B. Riley Files Lawsuit Against Former Investment Banking Head

Updated Category News Views 645

B. Riley Financial Inc Takes Legal Action B. Riley Financial Inc (NASDAQ: RILY) has recently embarked on a legal journey, alleging serious misconduct from its former investment banking head. The company claims that this individual, David Merriman, engaged in unprofessional actions to lure clients and team members to his new employer, Texas Capital Bank. This lawsuit was...

Continue Reading
Liquidia Corporation's Upcoming Financial Reporting and Insights

Updated Category News Views 129

Liquidia Corporation's Upcoming Financial Reporting Liquidia Corporation (NASDAQ: LQDA) has exciting updates on its financial performance. The company, known for its groundbreaking work in the biopharmaceutical sector, is set to release its first-quarter financial results soon. This announcement will be articulated in a live webcast scheduled for 8:30 a.m. Eastern Time on...

Continue Reading
Intraosseous Device Market Growth and Innovation Insights

Updated Category News Views 81

Intraosseous Devices Market Set for Robust Growth The intraosseous devices market is experiencing remarkable expansion, with projections suggesting sales will reach USD 938.6 million, a significant rise from USD 494.3 million in the near future. This represents a consistent compound annual growth rate (CAGR) of 5.8% between 2025 and 2035. This promising growth trajectory...

Continue Reading
Oncolytics Biotech's Pelareorep: Insights into Cancer Therapy Innovations

Updated Category News Views 119

Overview of the Oncology Market Landscape The oncology sector is evolving rapidly, projecting a revenue surge to almost US$900 billion globally, driven by a surge in cancer diagnoses and emerging therapeutic innovations. Despite facing regulatory hurdles, a wave of new entrants is working to change the way cancer is treated, promising alternate solutions for various...

Continue Reading
Investigation Notice Regarding Key Shareholders' Rights Issues

Updated Category News Views 197

Investigation into Shareholder Rights for Key Companies Halper Sadeh LLC, an advocate for investor rights, has launched an investigation concerning several prominent companies and their obligations to shareholders. This inquiry is crucial as it aims to ensure compliance with federal securities laws and ethical fiduciary duties. Air Transport Services Group, Inc. Overview...

Continue Reading