Myomo, Inc. Enters New Loan Agreement
Ticker: MYO · Form: 8-K · Filed: Jul 15, 2024 · CIK: 1369290
| Field | Detail |
|---|---|
| Company | Myomo, Inc. (MYO) |
| Form Type | 8-K |
| Filed Date | Jul 15, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001, $4,000,000, $5,500,000, $20,000, $100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, debt, material-definitive-agreement
Related Tickers: MYO
TL;DR
MYO just signed a new loan agreement, details TBD.
AI Summary
On July 11, 2024, Myomo, Inc. entered into a Material Definitive Agreement, specifically a loan and security agreement with an unnamed lender. This agreement creates a direct financial obligation for Myomo, Inc., the details of which are not fully disclosed in this filing.
Why It Matters
This filing indicates Myomo, Inc. has secured new financing, which could impact its operational capacity and financial structure.
Risk Assessment
Risk Level: medium — The creation of a new financial obligation introduces leverage and repayment risk, though the specific terms and amount are not yet fully detailed.
Key Players & Entities
- Myomo, Inc. (company) — Registrant
- July 11, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- 001-38109 (identifier) — SEC File Number
- 137 Portland St., 4th Floor Boston, MA 02114 (address) — Principal executive offices
FAQ
What is the specific nature of the Material Definitive Agreement entered into by Myomo, Inc. on July 11, 2024?
The filing states that Myomo, Inc. entered into a loan and security agreement on July 11, 2024.
What is the total amount of the financial obligation created by this agreement?
The specific dollar amount of the loan and security agreement is not disclosed in this filing.
Who is the lender in this new loan and security agreement?
The identity of the lender is not specified in this Form 8-K filing.
What are the key terms and conditions of the loan and security agreement?
The filing does not provide details on the key terms and conditions of the agreement.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on July 11, 2024.
Filing Stats: 1,168 words · 5 min read · ~4 pages · Grade level 12.7 · Accepted 2024-07-15 16:05:34
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share MYO NYSE Americ
- $4,000,000 — it whereby the Company may borrow up to $4,000,000 (the "Revolving Line"), which Revolving
- $5,500,000 — hich Revolving Line may be increased to $5,500,000 at the Bank's sole discretion upon the
- $20,000 — t also pay Bank (i) a commitment fee of $20,000, (ii) an "Anniversary Fee" of 0.50% of
- $100,000 — e maturity of indebtedness in excess of $100,000. If any event of default occurs and is
Filing Documents
- d871170d8k.htm (8-K) — 30KB
- d871170dex101.htm (EX-10.1) — 306KB
- 0001193125-24-179060.txt ( ) — 543KB
- myo-20240711.xsd (EX-101.SCH) — 3KB
- myo-20240711_lab.xml (EX-101.LAB) — 18KB
- myo-20240711_pre.xml (EX-101.PRE) — 11KB
- d871170d8k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. MYOMO, INC. Date: July 15, 2024 By: /s/ David A. Henry Name: David A. Henry Title: Chief Financial Officer