Sheppard Mullin advised Celularity Inc. (Nasdaq: CELU), a leader in regenerative and cellular medicine, in its strategic and financial restructuring designed to significantly enhance liquidity and operational agility.
In this matter, Celularity successfully retired all debt obligations, including $32.0 million in senior secured loans and $9.6 million in accrued interest through a creative asset monetization structure. Sheppard Mullin’s team structured an Asset Purchase Agreement under which Celularity sold its valuable intellectual property assets to Celeniv Pte. Ltd., and concurrently executed an exclusive License Agreement, enabling continued uninterrupted use of the assets. This approach preserved Celularity’s operational capabilities while dramatically improving its financial flexibility.
The Sheppard Mullin team was led by the firm’s co-leader of the Life Sciences team Jeffrey Fessler, partner Michael Orlando and associate Nazia Khan.
Read the full press release here.