Predict your next investment

SVXR company logo
ELECTRONICS | Technical & Scientific Instrumentation
svxr.com

See what CB Insights has to offer

Founded Year

2013

Stage

Loan | Alive

Total Raised

$22.82M

Last Raised

$680K | 2 yrs ago

About SVXR

SVXR provides an inline inspection and metrology system that will allow manufacturers of advanced interconnects to quickly bring the products to market at high yields and high reliability.

SVXR Headquarter Location

90 Bonaventura Drive

San Jose, California, 95134,

United States

408-230-7164

Latest SVXR News

SVXR, Inc. – Bankruptcy Unicorn? Further to Bruker Nano Sale, Debtor Seeks Dismissal of Case; Anticipates Full Recovery for Creditors and Possible Recovery for Equity

Sep 28, 2021

First Name * Submit September 27, 2021 – The Debtor filed a motion seeking dismissal of its Chapter 11 case [Docket No. 125]. As the Debtor, founded in 2013 to provide "high speed inspection and metrology technology to the semiconductor packaging industry," points out, this is an unusual dismissal motion, reflecting a "result rarely seen in bankruptcy cases. "  Following the sale of their assets to Bruker Nano, the Debtors now believe that creditors may see a full recovery and that even equity is in with a chance as to some sort of distribution. With dismissal motions normally filed in respect of bankruptcies no-hopers, this is a rare filing indeed. The Debtor's motion [Docket No. 125] reads: “The Debtor filed this chapter 11 case to complete an approximately year-long marketing and sale process that began in September 2020. Following a robust pre- and post-petition process, on September 9, 2021, the Debtor closed the sale of substantially all of its assets to its stalking horse bidder Bruker Nano, Inc. (‘Bruker’)—only 36 days after the Debtor filed for chapter 11 protection. Now that the Sale has been consummated, the Debtor seeks to dismiss this chapter 11 case to maximize the recoveries for all of the Debtor’s economic stakeholders. As set forth more fully below, based on current working-capital calculations, the Debtor believes that unsecured creditors will receive substantial—if not full—recoveries from the Debtor’s sale proceeds. Moreover, enough sale proceeds may, in fact, remain after fully paying unsecured creditors that the Debtor’s equity holders may receive a distribution. Recoveries of this magnitude—an overwhelmingly positive result rarely seen in bankruptcy cases—can only occur if this chapter 11 case comes to a swift and efficient conclusion. Following the sale, the Debtor has no operations and no remaining assets beyond the sale proceeds and, accordingly, no material source of income. The Debtor has already paid off its debtor-in-possession financing facility, prepetition secured notes, and senior secured loan of the U.S. Small Business Administration. Thus, at this point, the continuation of this chapter 11 case, or the conversion to chapter 7, will only reduce creditor recoveries through the incurrence of administrative expenses without providing any tangible benefit to such creditors and other parties in interest. Following the dismissal, the Debtor intends to wind down its business in accordance with applicable law, providing a fair, efficient, and cost-effective alternative to a case under the Bankruptcy Code." Asset Sale Background On September 3rs, the Court hearing the SVXR case issued an order approving the $11.86mn sale of substantially all of the Debtor's assets to stalking horse Bruker Nano, Inc. (the “Stalking Horse Bidder” or “Bruker Nano”) [Docket No. 106]. On August 23rd, absent any further qualified bids, the Debtor had canceled the auction scheduled for August 25, 2021 and designated Bruker Nano, Inc. as the successful bidder [Docket No. 76]. Bruker Nano's August 3, 2021 stalking horse APA is attached to the Debtor's bidding procedures motion [Docket No. 20] as Exhibit B (p.60). Bruker Nano, Inc. (an affilliate of Bruker Corp, Nasdaq: BRKR) describes itself as "enabling scientists to make breakthrough discoveries and develop new applications that improve the quality of human life. Bruker’s high-performance scientific instruments and high-value analytical and diagnostic solutions enable scientists to explore life and materials at molecular, cellular and microscopic levels. "  About the Debtors According to the Debtor : “Based in San Jose, California, SVXR was founded in 2013 expressly to bring high speed inspection and metrology technology to the semiconductor packaging industry. SVXR’s founders anticipated the need to deploy inline 100% transmissive inspection into the semiconductor packaging manufacturing process and developed the company’s technology with this end in mind. The results, SVXR’s HR-AXI technology suite brings together the company’s unique data acquisition architecture with proprietary machine learning analysis techniques to provide customers with process monitoring and defect detection capabilities not found on any other products in the market.

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

SVXR Patents

SVXR has filed 16 patents.

The 3 most popular patent topics include:

  • Radiography
  • Electronics manufacturing
  • Semiconductor device fabrication
patents chart

Application Date

Grant Date

Title

Related Topics

Status

5/20/2020

7/6/2021

Radiography, Medical imaging, Space observatories, Image processing, Radiology

Grant

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

Application Date

5/20/2020

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Grant Date

7/6/2021

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Title

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Related Topics

Radiography, Medical imaging, Space observatories, Image processing, Radiology

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Grant

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

SVXR Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

SVXR Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.