ClearPoint Neuro (Nasdaq:CLPT) announced today that it entered into a note financing agreement with Oberland Capital Management of up to $110 million.
The agreement includes $30 million in gross proceeds at closing. Oberland agreed to provide an additional $25 million at the option of the company at any time prior to Dec. 31, 2026. It also signed on to provide $50 million at the option of ClearPoint Neuro and Oberland at any time prior to Dec. 31, 2026.
Additionally, the company entered into a stock purchase agreement with Oberland for the firm to purchase 275,808 shares of its common stock. Priced at $12.69 per share, it represents an additional $3.5 million in gross proceeds. Oberland also has the righ tto add an additional $1.5 million in financing by the end of 2026, rounding out the deal at $110 million.
ClearPoint Neuro intends to use the funds for general corporate purposes. Those may include capital expenditures, working capital and general and administrative expenses.
The company develops stereotactic guidance technology as well as laser therapy and navigation systems. It operates in the device, cell, and gene therapy-enabling spaces, offering precise navigation to the brain and spine.
“We are thrilled to begin this partnership with Oberland Capital, as their goal of supporting the development and commercialization of innovative medical technologies such as cell and gene therapy is perfectly aligned with our vision, our products, and our partners,” said Danilo D’Alessandro ClearPoint Neuro CFO. “Even as the global economic landscape continues to evolve, many of our 60+ pharmaceutical partners are routinely asking us to accelerate our new product introductions, expand our installed base, and prepare hospitals for the influx of new patients who will seek treatment once these advanced therapies become available. Oberland Capital has 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 to support their key clinical trials and eventual commercialization over the next few years.”
