RxSight Secures $50M Term Loan

TL;DR

RxSight just inked a $50M loan from Perceptive Credit Holdings to fund operations.

AI Summary

On April 18, 2024, RxSight, Inc. entered into a Material Definitive Agreement, specifically a Second Amendment to the Credit Agreement. This amendment involves a new $50 million senior secured term loan facility provided by Perceptive Credit Holdings, LP. The company intends to use these funds for general corporate purposes.

Why It Matters

This new financing provides RxSight with additional capital, which could support its operational growth and strategic initiatives.

Risk Assessment

Risk Level: medium — The company is taking on new debt, which increases its financial leverage and repayment obligations.

Key Numbers

• $50.0M — New Term Loan Facility (Provides additional capital for general corporate purposes.)

Key Players & Entities

• RxSight, Inc. (company) — Registrant
• Perceptive Credit Holdings, LP (company) — Lender
• $50 million (dollar_amount) — Senior secured term loan facility amount
• April 18, 2024 (date) — Date of Material Definitive Agreement

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share RXST The Nasdaq Stock Mar
• $41,579 — erm expires. The base rent is initially $41,579 per month, payable on the first day of
• $30,701 — a Amendment. The base rent is initially $30,701 per month and includes fixed rent escal
• $64,843 — a Amendment. The base rent is initially $64,843 per month and includes fixed rent escal
• $10.8 million — ompany is required to pay approximately $10.8 million in future minimum lease payments of whi
• $0.2 million — future minimum lease payments of which $0.2 million will be paid in 2024, $1.4 million will
• $1.4 million — hich $0.2 million will be paid in 2024, $1.4 million will be paid in 2025, $1.6 million will
• $1.6 million — 024, $1.4 million will be paid in 2025, $1.6 million will be paid in 2026, $1.8 million will
• $1.8 million — 025, $1.6 million will be paid in 2026, $1.8 million will be paid in both 2027 and 2028, and
• $4.0 million — will be paid in both 2027 and 2028, and $4.0 million will be paid thereafter. The Company

Filing Documents

• rxst-20240418.htm (8-K) — 43KB
• 0000950170-24-046558.txt ( ) — 150KB
• rxst-20240418.xsd (EX-101.SCH) — 23KB
• rxst-20240418_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On April 18, 2024, RxSight, Inc. (the "Company") entered into new leases, or amendments to existing leases, for three of its four facilities comprising the Company's headquarters, manufacturing, research and development and administrative offices in Aliso Viejo, California, as described in further detail below. 125 Columbia On April 18, 2024, the Company entered into a Standard Industrial/Commercial Single-Tenant Lease – Net (the "125 Columbia Lease") with BML Management, LLC, for an approximately 26,825 square foot industrial and research and development facility in Aliso Viejo, California. The 125 Columbia Lease commences on June 1, 2024 and will end on January 31, 2031. The Company has two options to extend the term of the 125 Columbia Lease, with each option to extend being for a term of 60 months, commencing when the prior term expires. The base rent is initially $41,579 per month, payable on the first day of each month commencing on June 1, 2024, subject to adjustment as set forth in the 125 Columbia Lease. 5 Columbia On April 18, 2024, the Company entered into Lease Amendment #2 to that certain Lease Agreement dated January 10, 2018, as amended on April 5, 2022, with Clifford D. Downs, for the property located at 5 Columbia in Aliso Viejo, California (the "5 Columbia Amendment"). Pursuant to the 5 Columbia Amendment, the term of the lease was extended 70 months, beginning on April 1, 2025 and ending on January 31, 2031. The parties agreed to the base rent rate payable over the 70 month term as set forth in the 5 Columbia Amendment. The base rent is initially $30,701 per month and includes fixed rent escalations beginning on April 1, 2027. The Company has two options to extend the term of the lease, with each option to extend being for a term of 60 months, commencing when the prior term expires. 100 Columbia On April 18, 2024, the Company entered into a Fifth Amendment to that certain Commer

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. RxSight, Inc. Date: April 22, 2024 By: /s/ Shelley Thunen Name: Shelley Thunen Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR