October 27, 2016 11:46 AM ET

Healthcare Equipment and Supplies

Company Overview of Baxano Surgical, Inc.

Company Overview

On August 10, 2015, Baxano Surgical, Inc. went out of business under Chapter 11 liquidation as per its bankruptcy filing. Baxano Surgical, Inc., a medical device company, designs, develops, and markets minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region. It markets the AxiaLIF family of products for single and two level lower lumbar fusion; and the VEO lateral access and interbody fusion system. The company also markets other products that complement these primary offerings, including Vectre facet screw system; Bi-Ostetic bone void filler; bowel retractors; discectomy tools; and a disposable bone graft harvesting system that could be used to ...

110 Horizon Drive

Suite 230

Raleigh, NC 27615

United States

Founded in 2000

139 Employees



Key Executives for Baxano Surgical, Inc.

Baxano Surgical, Inc. does not have any Key Executives recorded.

Baxano Surgical, Inc. Key Developments

Baxano Surgical Common Stock Deleted From Other OTC

Baxano Surgical, Inc Common Stock deleted from Other OTC, effective August 12, 2015. The deletion was due to bankruptcy plan effective/shares cancelled.

Fifth Amended DIP Financing Approved for Baxano Surgical, Inc.

The US Bankruptcy Court gave an order approving the fifth amended DIP financing agreement for Baxano Surgical, Inc. on July 24, 2015. As per the amended DIP agreement, maturity date for DIP financing agreement has been revised to earlier of the effective date of the second amended plan and September 22, 2015. This modification has been made solely for purposes of the Debtor's continued use of cash collateral since the DIP Obligations have already been paid in full.

Second Amended Liquidation Plan Approved for Baxano Surgical, Inc.

The US Bankruptcy Court approved the second amended plan of liquidation of Baxano Surgical, Inc. on July 24, 2015. The debtor had filed its amended plan in the Court on July 22, 2015. As per the approved plan, U.S. trustee fees of $6,825, other administrative claims of $0.03 million, professional administrative claims of $0.84 million, allowed priority tax claims of $0.09 million, other priority claims and non-deferred Hercules claim shall be paid in full in cash. Deferred Hercules claim shall be deemed as an administrative claim and paid by the liquidation trustee pari passu and pro-rata with payment of the deferred professional administrative claims. Holders of general unsecured claims shall receive pro-rata portion of Recovery Funds, if the liquidation trustee elects to pursue any causes of action. All the debtor’s interests shall be cancelled and shall receive no distribution under the plan. The plan shall be funded from debtor’s cash in hand and sale of assets.

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