Neurotech firm ClearPoint Neuro requesting financial advice from Covington for their strategic plans
Published at 13 May 2025
ClearPoint Neuro Raised Up to USD 110 Million in Financing with Oberland Capital's Assistance
In a major move, ClearPoint Neuro, a global leader in the development and production of precise navigation devices for brain and spine therapies, has managed to secure up to USD 110 million in financing from Oberland Capital Management. This financing comes in the form of a note funding arrangement, brokered by international law firm Covington & Burling.
Covington & Burling's dedicated team, led by partners Peter Schwartz and Megan Gates, advised ClearPoint Neuro on the financial aspects of the transaction. The team also included associates Brendon Francis, Keunjung Cho, Scott Danzis, Kurt Baca, Sarah Hoagland, and Michael Francese, covering areas like securities, capital markets, tax, intellectual property, and employee benefits.
The financing deal will see ClearPoint Neuro raise an initial USD 30 million at closing, with additional financing options available. ClearPoint Neuro has the discretion to access an extra USD 25 million before December 31, 2026, while both ClearPoint Neuro and Oberland Capital have the option to agree on an additional USD 50 million before the same date.
To further cement the partnership, Oberland Capital has also made an equity investment in ClearPoint Neuro by purchasing 275,808 shares of the company's common stock at USD 12.69 per share. This investment raised an additional USD 3.5 million for ClearPoint Neuro.
ClearPoint Neuro's Chief Financial Officer, Danilo D'Alessandro, expressed his enthusiasm about the partnership, stating, "Oberland Capital's goal of supporting the development and commercialization of innovative medical technologies is perfectly aligned with our vision...[they] have provided us with a substantial, creative, and flexible source of capital that will allow us to respond to our cell and gene therapy partners who depend on us..."
William Clifford, Partner at Oberland Capital, also spoke about the deal, "ClearPoint Neuro has a market-leading portfolio of medical devices for neurosurgical navigation and a large and growing pipeline of cell and gene therapy delivery partnerships...We are excited to partner with ClearPoint Neuro and look forward to helping the company achieve its long-term objectives."
In addition to Covington & Burling's advice, ClearPoint Neuro was advised on the registered direct offering by Sheppard, Mullin Richter & Hampton, while Oberland Capital was advised by global law firm Cooley.
This substantial financing will provide ClearPoint Neuro with significant financial flexibility to support its strategic objectives, despite recent volatility in the capital markets. With this boost, the company is poised to continue its role in revolutionizing brain and spine therapies, as well as its growing partnerships in cell and gene therapy.
- This financing deal, between ClearPoint Neuro and Oberland Capital Management, will enable ClearPoint Neuro to invest in advanced technology and further its role in the development of precise navigation devices for brain and spine therapies.
- The significant funding raised by ClearPoint Neuro from Oberland Capital will not only support its ongoing business but also its future investments in cell and gene therapy partnerships, further expanding its reach in the medical technology industry.
