Stephenson Harwood advises on Feedback and Rex Bionics reverse takeovers

Stephenson Harwood has advised on the two recent reverse takeovers of Feedback and Rex Bionics. Tom Nicholls led the teams for both deals.

The law firm advised Feedback on the acquisitions of medical imaging software companies Cambridge Computed Imaging and TexRAD for a mixture of cash and share consideration. Feedback also raised new funds through a subscription for new ordinary shares. The transactions completed and the new shares were admitted to trading on AIM on 19 May 2014.

Stephenson Harwood also advised Oriel Securities, NOMAD and broker to Rex Bionics (formerly known as Union Medtech), in relation to a £10m placing by Oriel on behalf of Rex Bionics (a New Zealand company that changed its name on completion of the transaction) and the re-admission of Rex Bionics to trading on AIM on 8 May 2014.

Rex Bionics develops and markets hands-free robotic exoskeletons for use by wheelchair users. It focuses on products designed to enable wheelchair users to stand and walk autonomously without the need for crutches or supports.

Nicholls was supported by intellectual property partner Alexandra Pygall, as well as associates Tom Page, Sarah Gauld and Anika Chandra and trainee Will Carter.