TORONTO, March 29, 2025 – Richter Inc., acting as the court-appointed monitor (the “Monitor“) for Synaptive Medical Inc. (“Synaptive” or the “Company“) under the Companies’ Creditors Arrangement Act (CCAA), is managing a sale and investment solicitation process (the “SISP“) for the Company. The goal of the SISP is to attract interest in potential transactions related to Synaptive’s assets and business operations (the “Property“). This includes the Company’s products (the “Products“) and/or its business operations (the “Business“), such as a sale of or investment in the Business, Property, and/or shares of the Company, or a reorganization, recapitalization, equity issuance, or similar transaction.

On March 19, 2025, the Ontario Superior Court of Justice (Commercial List) (the “Court“) issued an initial order (the “Initial Order“) for the Company under the CCAA, which may be amended from time to time.

Pursuant to a Court order effective March 28, 2025 (the “SISP Approval Order“), the Court has given the go-ahead for the SISP, which will be carried out in accordance with the procedures, terms, and conditions outlined in the order (the “SISP Procedures“). The SISP Procedures detail a two-phase process with specific milestones. Interested parties are encouraged to submit offers based on any transaction structure they choose, in line with the SISP.

All parties interested in submitting a bid must provide the Monitor with a signed non-disclosure agreement as required by the SISP. To participate, interested parties must deliver a non-binding letter of interest to the Monitor by 5:00 p.m. Toronto time on April 30, 2025, in accordance with the SISP. Parties who submit non-binding letters of interest, are qualified to continue in the SISP, and wish to submit a binding offer, must deliver a binding bid to the Monitor by 5:00 p.m. Toronto time on May 16, 2025, according to the SISP guidelines.

Interested parties should consult the SISP Procedures for information on other important deadlines and requirements. The Monitor may change the deadlines in the SISP Procedures, in consultation with the Company and with the prior written consent of Export Development Canada (the “DIP Lender“). The Monitor is not obligated to accept the highest bid or any bid submitted, and neither the Monitor, the Company, nor the DIP Lender will be liable to any person or party for any action or omission related to the SISP.

Copies of the Initial Order, the Amended and Restated Initial Order, the SISP Approval Order, and related documents are available on the Monitor’s website: .

About Synaptive Medical Inc.

Synaptive Medical Inc. is a Canadian medical device and technology company based in Toronto, specializing in neuroimaging and precision intervention. The company is focused on creating advanced neurosurgical and imaging products, offering a comprehensive neurosurgery solution from pre-operative imaging, planning, and diagnosis to surgical interventions and post-operative care. More information is available at .

SOURCE Richter

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