AxoGen is located in Alachua, Florida, but will soon merge with LecTec, which is based in Texas. AxoGen, founded in 2002, creates products that improve peripheral nerve damage and assist both surgeons and patients. Damage to peripheral nerves can impair the ability to maintain strength in the muscles and perform simple actions or movements. AxoGen’s products are used to alleviate peripheral nerve damage in both soldiers and civilians by repairing, connecting and protecting tissue.
When privately owned, AxoGen and its partner Cook Biotech, licensed technology from the University of Texas and accumulated significant funding from other investors. The merger between AxoGen and LecTec is expected to help AxoGen expand and market its products.
LecTec recently won an intellectual property lawsuit, which provided the funds they are using to invest in AxoGen. The new company will operate under the AxoGen name and LecTec shareholders are expected to approve the deal in September, which provides for the company to invest $10.5 million in AxoGen plus an additional $2 million, if needed.
As companies grow by expanding their product line and market share, there are opportunities that involve mergers, acquisitions and corporate restructuring. If you have an expanding company and are considering merging with or acquiring another company, the Law Office of Knellinger & Associates can help.
We can help you ensure that company assets and revenues are what they seem so that you, as the purchaser, do not overpay for the business. Similarly, we assist business sellers with drafting sales agreements that represent the true value of the company at the time of the sale.
Negotiations to buy, sell and merge businesses can be lengthy and difficult. Our business law attorneys can advise you during the negotiation process and help protect your interests. Once the terms are agreed upon, we can draft documents to ensure that they properly reflect the agreement of the parties.
We can also help with the more administrative, but no less important, details, such as government agency filings. Our services include drafting agreements pertaining to stock purchases, stock holder rights, financing and loans, and non-compete issues.