Baxano Acquisition

3/5/2013

M&A

$23,600,000

Under the terms of the merger agreement (the "Merger Agreement"), TranS1 Inc. ("TranS1? or "the Company") will issue approximately 10.4 million shares of TranS1 Common Stock and pay $550,000 of cash (approximately $23.6 million of value based on the March 1, 2013 closing price) to acquire Baxano, Inc. ("Baxano") (the "Merger Transaction"). The Company will also refinance $3.0 million of existing debt of Baxano in the transaction at closing. On a pro forma basis, prior to the financing transaction discussed below, current TranS1 shareholders will own approximately 72.4% of the combined company and approximately 27.6% will be owned by current Baxano shareholders. The final number of shares will be subject to certain adjustments at closing.

Acquired or Merged

Medical Devices & Instruments

655 River Oaks Pkwy.
San Jose, CA 95134
USA

The company is developing tools to restore spine function and preserve healthy tissue.