secwatch.observer — SEC 8-K summary
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Issuer:     NEVRO CORP (—)
CIK:        0001444380
Form:       8-K
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0001193125-23-286696
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nevro acquires Vyrsa for $40M upfront plus $35M milestones; closes $200M term loan
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- Acquired Vyrsa Technologies (SI joint fusion devices) for $40M cash at close plus up to $35M in milestone payments.
- Vyrsa's portfolio targets $2B+ SI joint fusion market; acquisition projected accretive to revenue and AEBITDA in 2024.
- Closed $200M term loan from Braidwell at SOFR+5.25%, matures 2029; issued warrants for 2.58M shares at $23.19.
- Loan proceeds used to repurchase ~$150.1M of 2.75% convertible notes due 2025; remaining for working capital.
- Management highlights lower dilution vs. a convertible offering due to warrant structure.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1444380/000119312523286696/0001193125-23-286696-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1444380/000119312523286696/d941369d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-286696

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer