Here are five things to know:
1. Per the agreement, RTI Surgical will pay $150 million at closing plus potential future milestone payments. Of the $150 million, $100 million will be paid in cash and the other in share buyouts.
2. RTI Surgical is acquiring 10,729,614 outstanding Paradigm Spine shares for roughly $50 million. The deal is expected to be finalized in the first quarter of 2019.
3. Both companies’ board of directors have approved the acquisition. Additionally, RTI Surgical shareholders and Paradigm Spine equity holders have expressed support of the deal.
4. Paradigm Spine is known for its coflex Interlaminar Stabilization device, a minimally invasive motion preserving implant. The device is backed by 12 years of clinical data.
5. RTI Surgical will fund the $100 million cash closing with new, fully-committed debt financing, which will be provided by Ares Capital Corp.
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