Jackson Walker recently assisted its client, QSpex Technologies, Inc., in completing a $6 million venture debt transaction with Silicon Valley Bank.
Based in Alpharetta, Georgia, QSpex uses proprietary technology to develop systems that enable vision care providers to efficiently produce a wide range of top-quality spectacle lenses with a variety of premium features. The venture debt agreement allowed QSpex to retire its existing GE Capital venture debt and will support the company’s major U.S. product launch.
Silicon Valley Bank is a subsidiary of Santa Clara, Calif.-based SVB Financial Group. With $20 billion in assets, SVB provides commercial, international and private banking through 34 locations worldwide and has been ranked among America’s Best Banks by Forbes magazine. As part of the deal, SVB will receive warrants to purchase preferred stock as well as a lien on all assets other than intellectual property.
QSpex was represented by Jackson Walker partner Jeff Harder with assistance from associate Joe Fonlon and paralegal Theresa Breslin. Mr. Harder has a unique blend of legal and business expertise that includes having worked with venture capitalists, entrepreneurs, and emerging businesses throughout the country. His experience enables him to develop innovative solutions to achieve his clients’ goals.