EX-5.1 2 v376914_ex5-1.htm EXHIBIT 5.1

 

Exhibit 5.1

Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, L.L.P.

 

 

 

OFFICES

Wells Fargo Capitol Center

150 Fayetteville Street, Suite 2300

Raleigh, North Carolina 27601

 

 

 

 

 

 

May 2, 2014

 

 

Mailing Address

P.O. Box 2611

Raleigh, North Carolina

27602-2611

 

 

TELEPHONE: (919) 821-1220

FACSIMILE: (919) 821-6800

 

Baxano Surgical, Inc.

110 Horizon Drive, Suite 230

Raleigh, North Carolina 27615

 

Re:Registration Statement on Form S-8

 

Ladies and Gentlemen:

 

We have acted as counsel to Baxano Surgical, Inc., a Delaware corporation (the “Company”), in connection with the registration on Form S-8 (the “Registration Statement”) under the Securities Act of 1933, as amended (the “Act”), of 250,000 shares of the Company’s common stock, $0.0001 par value per share (the “Shares”), for issuance under the Company’s Amended and Restated Employee Stock Purchase Plan (the “Plan”).

 

This opinion is being furnished in accordance with the requirements of Item 8 of Form S-8 and Item 601(b)(5)(i) of Regulation S-K.

 

We have examined originals or copies, certified or otherwise identified to our satisfaction, of (i) the Registration Statement, including exhibits, and the prospectus included therein, (ii) the Company’s Amended and Restated Certificate of Incorporation, as amended, (iii) the Company’s Amended and Restated Bylaws, (iv) certain resolutions of the Board of Directors of the Company, and (v) such other corporate documents, records and proceedings, minutes, consents, actions and resolutions, as we have deemed necessary for the purposes of this opinion.

 

In our examination, we have assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conforming to originals of all documents submitted to us as copies, and the authenticity of originals of such copies. We have also considered such matters of law and fact, in each case, as we, in our professional judgment, have deemed appropriate to render the opinions contained herein. As to certain factual matters, and without investigation or analysis of any underlying data contained therein, we have relied on oral or written statements of officers and other representatives of the Company, whom we believe to be responsible.

 

Based upon and subject to the foregoing and the further qualifications and limitations set forth below, and in reliance thereon, it is our opinion that the Shares have been duly authorized and, when issued and delivered against payment therefor in accordance with the Plan as described in the Registration Statement, and upon either (a) the countersigning of the certificates representing the Shares by a duly authorized signatory of the registrar for the Company’s common stock, or (b) the book entry of the Shares by the transfer agent for the Company’s common stock, will be validly issued, fully paid, and nonassessable.

 

 
 

 

Baxano Surgical, Inc.

May 2, 2014

Page 2

 

 

We express no opinion as to any matter other than as expressly set forth above, and no opinion, other than the opinion given herein, may be inferred or implied herefrom. This opinion is limited to matters governed by the Delaware General Corporation Law, and we express no opinion as to the laws of any other jurisdiction. The opinion expressed herein does not extend to compliance with federal and state securities laws relating to the sale of the Shares.

 

Our opinion expressed herein is as of the date hereof, and we undertake no obligation to advise you of any changes in applicable law or any other matters that may come to our attention after the date hereof which may affect our opinion expressed herein.

 

We consent to the filing of this opinion as an exhibit to the Registration Statement and to all references to us in the Registration Statement, including any amendment or supplement thereto. Such consent shall not be deemed to be an admission that our firm is within the category of persons whose consent is required under Section 7 of the Act or the regulations promulgated pursuant to the Act.

 

  Sincerely yours,  
     
  SMITH, ANDERSON, BLOUNT, DORSETT,  
            MITCHELL & JERNIGAN, L.L.P.  
     
  /s/ Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, L.L.P.