Two Morris, Manning & Martin attorneys were counsel to a Florida maker of lithium polymer batteries on a
round of financing.
BlueCrest Capital Finance LP served up $5 million in senior debt for Solicore Inc., and a group of existing investors ponied up an additional $2 million in convertible subordinated debt for Solicore. MMM partner David Calhoun and associate Christopher Maxwell, both in Atlanta, advised Solicore. BlueCrest, a Chicago-based investment firm, relied on in-house counsel, Calhoun said.
The group of existing investors in Solicore who participated in the new financing round included Draper Fisher Jurvetson of Menlo Park, Calif.; the venture-capital arm of Ontario Power Generation of Toronto; and Firelake Capital Management of Palo Alto, Calif.
Solicore, of Lakeland, Fla., makes ultra-thin, flexible solid-state electrolyte batteries, under the Flexion brand name, used in computerized credit cards, medical devices and radio-frequency identification tags.