Omni Surgical, LLC Successfully Completes $27.0 Million Leveraged Recapitalization

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Mar 27, 2012, 10:00 ET

AUSTIN, Texas, March 27, 2012 /PRNewswire/ -- Omni Surgical, LLC d/b/a Spine360 ("Spine360" or the "Company") announced today that it has closed a $27,000,000 financing in the form of two Senior Term Loans ("Loans"). The financing was provided by JP Morgan Chase Bank, N.A. The placement was arranged for the Company by Akin Bay Company LLC ("Akin Bay"), a New York-based investment bank which acted as Spine360's sole placement agent and exclusive adviser for the transaction. The Loans were used for a recapitalization which will help the Company achieve its current growth and expansion plans.

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"Completing a financing transaction with JP Morgan Chase shows significant confidence and support in our company and is a testament to the hard work and contributions made by the Spine360 team in the past year. This transaction achieves one of our strategic initiatives and allows us to leverage our position towards other milestones in the future," said DJ Janice, founder and CEO of Omni Surgical, LLC.

"We believe the financial sponsorship of JP Morgan will provide the Company with resources to take the Company to a national level," said Carter Burton, President of the Company.

"Partnering our company with the global presence and financial expertise of JPMorgan Chase enables us to strategically maximize the value of Spine360 in the capital markets," said William Daniel, Chief Financial Officer of the Company.

ABOUT OMNI SURGICAL, LLC

Omni Surgical, LLC, is an innovative leader in the medical devices industry, designing, manufacturing and distributing spinal implants and interbody devices. This segment is one of the most rapidly growing segments of the medical devices industry. The Company was formed to provide innovative products and specialized services to top tier spinal neurosurgeons and orthopedic surgeons. The Company is headquartered in Austin, Texas. Web: www.spine360.com

ABOUT AKIN BAY COMPANY LLC

Akin Bay Company LLC, (www.akinbay.com) is a New York based broker/dealer and investment banking firm servicing middle market public, private and family owned companies. Akin Bay provides strategic advice on buy and sell-side mergers and acquisitions, raising private equity and institutional debt for, and advising on the restructuring of, middle market companies. Akin Bay is one of the premier independent US investment banking boutiques, with the depth of experience and expertise to advise companies across a broad spectrum of industries, ranging in revenues from $20 million to over $1 billion, in North America, Europe and Asia.