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Ropes & Gray Represents Cohen & Company Capital Markets in Proposed Business Combination Between Baird Medical and ExcelFin Acquisition Corp.

Practices: Special Purpose Acquisition Companies, Capital Markets, Finance, Securities & Public Companies, China Life Sciences, Technology, Media & Telecommunications, Asia Pacific Industries: Healthcare & Life Sciences

Ropes & Gray is advising Cohen & Company Capital Markets, acting as ExcelFin Acquisition Corp. lead financial and capital markets advisor, in a business combination agreement with China-based Baird Medical Investment Holdings Limited that would result in Baird Medical becoming a publicly traded company. Upon closing the transaction, the combined company is expected to be listed on the Nasdaq under the new ticker symbol BDMD. The business combination was announced on June 26.

The proposed transaction represents a pre-money equity value of $300 million for Baird Medical and an implied pro forma enterprise value of approximately $370 million for the combined company.

Baird Medical is a leading microwave ablation (MWA) medical device developer and provider in China, and is the largest MWA medical device provider for thyroid nodules and breast lump treatment in China.

The Ropes & Gray team was led by capital markets partner Chris Capuzzi and capital markets senior attorney Paul Kellogg.

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