Baker McKenzie Zurich has advised, as lead and international counsel, Highbridge Capital Management, LLC, on an up to CHF 20,000,000 equity-linked debt financing for SIX Swiss Exchange listed Santhera Group.
The financing takes the form of senior secured exchangeable notes, exchangeable into shares in Santhera Pharmaceuticals Holding AG. The exchangeable notes make available up to CHF 20,000,000 in near-term liquidity to Santhera and is expected to provide a runway to advance the value-enhancing development and pre-commercialization activities for the neuromuscular compounds Puldysa® and vamorolone. The exchangeable notes have a maximum term of 18 months and provide for a fixed interest at a rate of 12 per cent. per annum which may also be paid in kind at a rate of 13 per cent. per annum. The transaction closed on July 14, 2020.
Baker McKenzie acted as lead and international counsel to Highbridge Capital Management, LLC, in this transaction and provided comprehensive legal and structuring advice. The Baker McKenzie team was led by Matthias Courvoisier (Partner, Capital Markets) and Philip Spoerlé (Senior Associate, Capital Markets and Banking & Finance) and further comprised Khelin N. Aiken (Partner, Washington, FDA Regulatory and Compliance), Kathrin Marchant (Partner, Frankfurt, Banking & Finance), Yves Mauchle (Senior Associate, Capital Markets), Julia Schieber (Senior Associate, IP), Andrea Bolliger (Counsel, Tax), Marta Zuliamis (Senior Associate, Frankfurt, Banking & Finance), Jan Roethlisberger (Associate, Banking & Finance), Jan Lusti (Junior Associate, Banking & Finance), Kristina Martinovic (Junior Associate, Banking & Finance) and Fabienne Bretscher (Junior Associate, IP).