Establishment Labs inks asset repurchasing deal with German, Spanish distributors

Breast implant maker Establishment Labs said today it inked a number of asset purchase agreements with distributors in Spain and Germany to repurchase stock they had previously held, according to an SEC filing.

The Costa Rica-based company said it inked an asset purchase deal with Motiva Matrix Spain SL for assets including all existing inventory previously sold to the seller, as well as its customer relationships and contracts for approximately $1.9 million (EU €1.6 million).

Establishment Labs said it also owes the distributor $2.3 million (EU €2.0 million) in outstanding debt, to be paid before the stock is repurchased.

The company said it inked a deal with its German distributor, Menke Med, to similarly purchase all its assets in a deal worth approximately $2.2 million (EU €1.9 million), according to an SEC filing.

In July, Establishment Labs priced its initial public offering at $18 per share, saying it expected to gross nearly $67 million not including a possible underwriters option.

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