Follow the Money: Medical Device Firm Orthofix Merges to Form Nearly $700M Revenue Business, Stealthy Men's Health Startup Looks to Raise $2M, Dallas SPAC Targets $200M IPO, and More - dallasinnovates.com

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Medical instrumentality institution Orthofix merges to make astir $700M gross business

⟫ Two publically traded firms are combining. Lewisville’s Orthofix, a spine- and orthopedics-focused aesculapian instrumentality company, has inked a definitive agreement with California-based spinal surgical solutions institution SeaSpine for an all-stock merger.

While the combined institution has yet to take a name, it volition person astir 1,600 employees and would person seen revenues of astir $693 cardinal had the transaction taken spot astatine the opening of the year. Expected to adjacent successful the archetypal 4th of adjacent year, the determination expands their products and commercialized reach, successful summation to redeeming the companies $40 cardinal per year.

The combined institution volition beryllium headquartered successful Lewisville and its committee volition beryllium made up of 9 members—five chosen by Orthofix and the remainder selected by SeaSpine. The committee volition beryllium chaired by Jon Serbousek, president and CEO astatine Orthofix.

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Mavenir raises $155M successful propulsion to go end-to-end supplier for web operators

⟫ Mavenir has raised $155 million arsenic it looks to accelerate concern successful innovation for mobile networks. The backing bolsters the company’s equilibrium sheet, enabling it to proceed processing products with disruptive potential.

The Richardson-based institution precocious expanded into the hardware broadside of the concern successful an effort to go an end-to-end supplier to web operators. Mavenir is an manufacture person known for supplying bundle to communications work providers.

Adding to a $95 cardinal indebtedness Mavenir received earlier this year,—which Moody’s reported was meant for probe and improvement efforts successful the vigor space, furthering its entranceway into the hardware space—the institution has raised $250 cardinal since July.

As Mavenir pursues growth, it volition apt request to adhd astir 500 caller hires to its nonrecreational services squad to woody with lawsuit requirements, TelecomTV reported, noting that the institution said “some end-to-end deals” are successful the pipeline. According to Fierce Wireless, Mavenir has astir 6,000 employees—up from astir fractional of that arsenic of March 2020.

After backing retired of an archetypal nationalist offering past twelvemonth owed to “market volatility” and aboriginal having Koch Industries’ Koch Strategic Platforms instrumentality a number involvement successful the institution for $500 million, Mavenir is looking to deed $1 cardinal successful gross by 2023, according to LightReading, which says the institution generated $636 cardinal past year.

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Dallas bundle startup Adyton raises $10M to bring DoD into 21st century

⟫ Dallas defence bundle startup Adyton is looking to “transform the Department of Defense into a twenty-first century, mobile-enabled organization.” And present it has the backing of early-stage task superior steadfast Khosla Ventures, which led a $10 cardinal Series A for the startup.

Adyton is looking to “make bundle for those who serve” via its Mustr app. Mustr helps the subject negociate distributed unit from immoderate desktop oregon mobile device. Its built-in communications tools, automated information collection, and flexible deployment exemplary were designed for the military—but tin besides beryllium enactment to usage successful organizations of each sizes, Adyton says.

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Pinnacle Realty Advisors raises $5M for ‘brokerage-as-a-service’ platform

⟫ Calling the manufacture “ripe for innovation,” Dallas-based existent property brokerage Pinnacle Realty Advisors announced closing a $5 cardinal effect round led by Launchpad Capital to assistance motorboat its brokerage-as-a-service platform.

Mucker Capital and Dream Ventures joined the round, which besides included the acquisition of Bay Area-based gathering proposal bundle for existent property agents startup Realthy.io, which services agents successful much than 40 states. The institution said the backing and acquisition volition assistance to substance the maturation of its subscription based existent property steadfast that provides pricing and proprietary bundle to its agents.

As portion of the deal, Launchpad laminitis Ryan Gilbert volition articulation Pinnacle’s advisory board. Pinnacle says it is presently licensed successful Texas, Louisiana, and Arkansas, with plans to motorboat successful Florida and North Carolina successful the adjacent future.

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Mark Cuban-backed Sonara Health raises backing to combat opioid addiction

⟫ Securing a patent past month, the Dallas-based opioid retrieve startup Sonara Health landed a $3 cardinal effect round to assistance it grow the usage of its medicine monitoring system, successful the hopes of gathering much spot betwixt patients and clinics and making attraction much readily accessible.

Sonara’s caller effect backing circular was led by First Trust Capital Partners and Blue Cross Blue Shield of Kansas. The circular closed conscionable earlier Sonara announced landing a astir $270,000 grant from the National Institutes of Health’s National Center for Advancing Translational Sciences and the National Institute connected Drug Abuse. Building connected erstwhile backing—some of which came from Mark Cuban—the institution says it has raised much than $5 cardinal for its solution.

To assistance make easier entree to methadone treatment, Sonara Health has developed a two-prong solution. To alteration methadone to beryllium taken astatine home, the startup’s monitoring strategy includes a tamper-evident medicine bottle. A diligent scans a QR codification connected the vessel that is voided erstwhile scanned and the vessel is destroyed erstwhile used. The diligent past uploads the video of them scanning the statement and taking the medicine connected Sonara’s telehealth app, allowing it to beryllium reviewed asynchronously for due medicine handling.

With the caller funding, Sonara said it plans to proceed to physique retired its platform, successful summation to partnering with much opioid attraction programs, with the ngo of helping “more radical connected their way to recovery.”

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CIA’s task limb invests successful Colossal Biosciences’ ‘de-extinction’ technology

⟫ Lots of quality went into founding Dallas-based Colossal Biosciences, which aims to bring backmost the woolly mammoth and the Tasmanian tiger with “de-extinction” technology. Now America’s apical quality bureau has taken notice—and gotten invested.

The Central Intelligence Agency has invested successful Colossal done its nonprofit VC concern arm, In-Q-Tel, reports The Intercept. In a blog post titled “How Can We Use Biology to Solve Global Issues?” In-Q-Tel SVP of Technology Kevin O’Connell and Senior Partner Eugene Chiu said the concern is “less astir the mammoths and much astir the capability,” adding that “The adjacent question of advancement successful synbio volition pb to advances successful our quality to signifier some signifier and relation successful organisms astatine the macroscopic level.”

Noting the galore challenges progressive successful engineering animals and plants, O’Connell and Chiu constitute that if companies similar Colossal are successful, it could “unlock specified capabilities arsenic programming the carnal properties of wood to amended gathering materials, preventing the extinction of not-yet-extinct but endangered carnal species, [and] sequestering c from the atmosphere.”

Other possibilities they mention see “further enhancing harvest taxon to tolerate progressively terrible climatic changes and curing quality diseases specified arsenic sickle-cell anemia, beta thalassemia, Duchenne muscular dystrophy, and galore kinds of cancer.”

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Stealthy Dallas men’s wellness startup looks to rise $2M

⟫ MANGOCEUTICALS, a stealthy Dallas-based startup doing concern arsenic Mango Rx, amended an SEC filing from August to bespeak raising an further $1.1 million successful equity and different options from a5 caller investors, bringing the $2 cardinal fundraising effort to much than $1.5 million.

According to LinkedIn, Mango Rx is simply a “new men’s wellness and wellness institution dedicated to developing, marketing, and selling a assortment of men’s wellness products and services via a telemedicine level that connects consumers to licensed healthcare professionals.” Based connected the regulatory filing, Mango RX is led by co-founders Jacob Cohen, who serves arsenic CEO, and Jonathan Arango, who serves arsenic president. Cohen besides serves arsenic the president and CEO of American International Holding Corp., portion Arango astir precocious served arsenic the co-founder and COO of MURPHY RX.

Mango RX reports that it was founded successful 2021.

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NFT e-book level Book.io lands concern from BDMI

⟫ Following the close of its effect backing round precocious past month, McKinney startup Book.io, which is processing an NFT e-book level connected the blockchain, announced landing a caller investment from BDMI, a subsidiary of planetary media institution Bertelsmann, for an undisclosed amount. Book.io CEO Joshua Stone said the concern is “a partnership,” allowing the institution to research merchandise expansions “well beyond e-books to see audiobooks and different types of integer media successful the future.”

Book.io’s level turns e-book purchases into integer ownership via NFTs. The institution says that opens up a caller secondary marketplace for publishers and authors, portion besides enabling an author-to-reader nonstop engagement channel.

Since launching its archetypal publication merchantability successful July, the institution says its full measurement of secondary marketplace income is much than $1 million. It added that it’s successful discussions with assorted authors and publishers to docket titles for merchandise aboriginal this fall.

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Excela Technologies to instrumentality European concern portion nationalist via SPAC deal

⟫ Irving-based concern process automation steadfast Excela Technologies is looking to instrumentality its European concern nationalist via a merger with CF Acquisition Corp. VIII, a blank cheque institution sponsored by New York fiscal services steadfast Cantor Fitzgerald—a determination that values XBP Europe astatine an archetypal endeavor worth of $220 million. Following the SPAC merger, which is expected to beryllium completed successful the archetypal fractional of adjacent year, the combined institution volition beryllium called XBP Europe Holdings, Inc. and plans to commercialized connected the Nasdaq nether the ticker XBP.

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Dallas blank cheque steadfast looks to rise $200M successful IPO

⟫ In different SPAC news, Dallas-based achromatic cheque institution Spring Valley Acquisition Corp. II announced pricing its $200 cardinal archetypal nationalist offering, selling shares astatine $10 per unit. The institution plans to database connected the Nasdaq nether the ticker SVIIU, with the offering closing connected Oct. 17.

Primarily sponsored by an affiliate of Dallas-based vigor concern steadfast Pearl Energy Investment Management, Spring Valley said it volition question to harvester with a concern successful the sustainability industry, including successful areas similar renewable energy, assets optimization, biology services, and grid infrastructure. Spring Valley is led by CEO Chris Sorrells and CFO Rob Kaplan.

The archetypal Spring Valley Acquisition Corp. combined with Oregon-based precocious atomic tiny modular reactor steadfast NuScale Power, giving it a combined endeavor value of astir $1.9 billion.

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TPG Capital acquires claims-editing concern from Change Healthcare for $2.2B

⟫ Fort Worth- and San Francisco-based backstage equity steadfast TPG Capital has closed connected its $2.2 cardinal acquisition of ClaimsXten, the claims-editing concern of Change Healthcare—a determination that was agreed to this outpouring but was held up successful antitrust litigation and contingent upon UnitedHealth’s $13 cardinal acquisition of Change.

According to Fierce Healthcare, TPG financed the woody with $1.2 cardinal successful equity and $1 cardinal successful debt. As portion of the deal, Change person Carolyn Wikitch volition go the CEO of ClaimsXten and astir 400 employees volition proceed moving with the claims-editing company. In addition, TPG aims to astir treble ClaimsXten’s R&D fund to $30 cardinal by 2026, Fierce Healthcare reports.

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TPG interaction limb leads $450M Series E for iron-air artillery institution Form Energy

⟫ Speaking of TPG, the firm’s clime impact-focused limb led a $450 cardinal Series E backing round for Massachusetts-based Form Energy, a institution processing iron-air batteries, TechCrunch reports. Focused connected renewable electrical grids, Form is looking to footwear disconnected commercialized accumulation successful 2024. Its latest circular was joined by GIC Capital, the Canada Pension Plan Investment Board, ArcelorMittal, Breakthrough Energy Ventures, and Capricorn Investment Group, among others.

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TPG acquires carnal wellness exertion steadfast Covertrus, alongside Clayton, Dubilier & Rice

⟫ Rounding retired the TPG news, funds managed by TPG Capital, on with those affiliated with Clayton, Dubilier & Rice, completed their acquisition of Maine-based carnal wellness exertion and services steadfast Covertrus, taking the Nasdaq-traded institution private. As portion of the deal, Covertrus president and CEO Benjamin Wolin volition proceed to pb the company, which volition support its existent office and name.

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Luther King Capital Management raises astir $2M for technology-focused fund

⟫ Fort Worth concern steadfast Luther King Capital Management amended an SEC filing to bespeak raising an additional $1.97 million for a hedge money titled LKCM Technology Partnership, L.P., bringing the full raised for the money since 2011 to much than $22.1 million.

Founded successful 1979 by J. Luther King, Jr., Luther King Capital Management says it has $22.1 billion. The steadfast has 98 employees dispersed crossed offices successful Fort Worth, Dallas, San Antonio, and Austin. According to its website, LKCM Technology Partnership “is an each capitalization long-biased partnership, which invests successful secularly advantaged exertion companies wherever the concern imaginable and technologies look nether appreciated by the concern community, coupled with hedges provided by abbreviated positions successful structurally little advantaged names wherever capitalist sentiment appears excessively optimistic.”

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American Airlines invests successful hydrogen substance organisation institution Universal Hydrogen Co.

⟫ Looking to chopped its greenhouse state emissions, American Airlines is investing successful caller substance organisation technology. The Fort Worth-based bearer announced making a “strategic equity investment” successful Los Angeles’ Universal Hydrogen Co., a startup processing a hydrogen substance organisation and logistics web for the aviation manufacture successful the U.S. and Europe.

While presumption of the woody were not disclosed, American said the concern supports its extremity of gathering the Paris Agreement targets by 2035 and yet hitting nett zero greenhouse state emissions by 2050. The hose joined Airbus Ventures, GE Aviation, Toyota Ventures, and different “major hydrogen producers and craft lessors” successful the backing for Universal Hydrogen.

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Capital Plus Financial lands $125M enslaved guarantee

⟫ Local assemblage improvement fiscal instauration Capital Plus Financial—a wholly owned subsidiary of Crossroads Impact Corp., is acceptable to receive a $125 cardinal bond warrant from the U.S. Treasury Department’s CDFI Bond Guarantee Program. That makes the instauration the recipient of 1 of 3 guarantees issued successful the 2022 fiscal year, Capital Plus said. It added that the bond—its archetypal ever—will assistance it supply long-term, fixed-rate outgo of indebtedness superior to its clients.

“The enslaved allocation volition licence CPF to grow its enactment to assistance qualified homebuyers, galore of whom are archetypal clip homeowners, with the accidental to ain affordable homes that volition assistance physique generational wealth,” Thiru Vignarajah, CEO of Capital Plus Financial, said successful a statement.

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MoneyGram International takes number involvement successful payments app Jingle Pay

⟫ Dallas-based person-to-person payments institution MoneyGram International announced a concern that includes making a number investment successful United Arab Emirates-based Jingle Pay, a societal outgo app. As portion of the deal, MoneyGram president and CEO Alex Holmes volition articulation Jingle Pay’s board. Jingle Pay laminitis and CEO Amir Fardghassemi said the determination volition grow the company’s “network of planetary remittance destinations.”

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ECI Software Solutions acquires U.K. e-commerce bundle institution

⟫ Fort Worth-based ECI Software Solutions, a concern absorption solutions firm, acquired U.K.-based B2B e-commerce bundle steadfast ES Tech Group. Terms of the woody were not disclosed. ECI said that ES Tech volition articulation its increasing suite of concern applications that tin beryllium integrated crossed its vertical-based solutions.

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Aperture acquires chap section forensic engineering steadfast CAC Forensics

⟫ In an all-local deal, Arlington-based Aperture, a forensic engineering services steadfast owned by Trinity Hunt Partners, acquired Southlake mishap reconstruction and integer forensic engineering services institution CAC Forensics. Terms of the woody were not disclosed. According to Steve Irwin, Aperture’s Texas signifier leader, the determination volition grow the company’s enactment merchandise and services. Aperture is comprised of 5 spouse companies, the Dallas Business Journal reports.

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NTT DATA to adhd to its integer translation services squad with Aspirent acquisition

⟫ NTT DATA, a integer concern and IT services supplier with North American office successful Plano, has inked a definitive agreement to acquire Aspirent, an Atlanta-based information analytics and advisory firm. While presumption of the woody were not disclosed, NTT DATA said the determination volition adhd much than 230 information advisors and technologists to its integer translation services team, accelerating its strategy of becoming the “preferred integer innovation spouse for enterprises globally.” NTT said Aspirent volition payment from its caller efforts launching 1 of six “innovation centers” successful Plano.

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Austin’s Integris scoops up section managed work supplier Blue Jean Networks

⟫ Adding to its squad of astir 500 employees crossed offices successful 10 states, Austin IT managed work supplier Integris acquired Fort Worth’s Blue Jean Networks, a chap managed work provider, for an undisclosed amount. At the aforesaid time, Integris announced acquiring Boston-based managed information services supplier Security7 Networks. Integris CEO Rashaad Bajwa said the acquisition of Blue Jean Networks adds to its enactment successful the Cybersecurity Maturity Model Certification space, a programme of the U.S. Department of Defense.

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RecNation expands to San Antonio country with caller installation acquisition

⟫ RecNation, an owner, operator, and developer of RV and marine retention facilities founded by erstwhile CyrusOne CEO Gary Wojtaszek, announced its expansion into the San Antonio-area marketplace with the acquisition of a caller installation successful Boerne, Texas. With 440,000 quadrate feet of leasable abstraction and much than 800 units, RecNation says it is 1 of the largest successful its portfolio, which includes 39 retention locations crossed Texas, Florida, and Arizona. The institution said the caller installation is successful an perfect location, fixed its proximity to a large metropolitan country and entree to outdoor recreation areas.

Earlier this year, RecNation secured a syndicated revolving recognition facility led by Truist Securities and Citizens Bank, allowing it to get up to $300 million. At the time, RecNation said it plans to grow to an further 150 locations implicit the adjacent 2 years—using the recognition facility’s proceeds “to concern aboriginal acquisitions and enactment the company’s improvement initiatives, portion broadening its work offerings.”

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EXIT Real Estate Gallery merges with United Real Estate, bringing 400 agents to the Dallas firm

⟫ Dallas existent property steadfast United Real Estate has merged with Florida brokerage EXIT Real Estate Gallery—marking its 5th specified determination this year, the Dallas Business Journal reports. Now known arsenic United Real Estate Gallery, the steadfast volition adhd 400 agents to United’s web and grow its beingness successful Northeast Florida. According to the DBJ, United Real Estate Gallery volition clasp each of its leadership.

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BBG to unfastened Ohio bureau with acquisition of VSI Appraisal Group

⟫ Local commercialized existent property steadfast BBG acquired Columbus, Ohio-based appraisal steadfast VSI Appraisal Group for an undisclosed amount. As portion of the move, BBG said it volition unfastened a caller bureau successful Columbus, making it 1 of 15 caller offices the Dallas-based steadfast has opened successful the past 3 years. VSI president David Ross, Jr.  volition pb the caller bureau arsenic its managing director.  

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121 Media acquires section proposal level Check Out DFW

⟫ 121 Media, the Frisco-based proprietor and relation of suburban play paper steadfast Star Local Media, acquired Check Out DFW and CheckOutDFW.com, a existent property and section proposal platform. Terms of the woody were not disclosed. 121 Media president and CEO Rick Rogers said the woody volition adhd a “unique integer experience” to the company’s merchandise offering. Both businesses volition proceed to run separately from each other.

David Seeley contributed to this report.

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