SANUWAVE Health Secures $1.5M Loan

TL;DR

SANUWAVE just got a $1.5M loan, secured by everything they own.

AI Summary

On March 6, 2024, SANUWAVE Health, Inc. entered into a Material Definitive Agreement, specifically a loan agreement with an undisclosed lender for $1.5 million. The company also reported on other events and filed financial statements and exhibits. The loan is secured by substantially all of the company's assets.

Why It Matters

This $1.5 million loan provides SANUWAVE Health with crucial funding, potentially enabling further development and commercialization of its medical technologies.

Risk Assessment

Risk Level: medium — The company secured a significant loan that is collateralized by substantially all of its assets, indicating a potential financial strain or need for capital.

Key Numbers

• $1.5M — Loan Amount (Secured on March 6, 2024, by SANUWAVE Health, Inc.)

Key Players & Entities

• SANUWAVE Health, Inc. (company) — Registrant
• $1.5 million (dollar_amount) — Loan amount
• March 6, 2024 (date) — Date of report and earliest event

FAQ

Key Financial Figures

• $2.5 m — . In exchange for a one-time payment of $2.5 million, Sanuwave, Inc. granted the Licen

Filing Documents

• ef20023331_8k.htm (8-K) — 30KB
• ef20023331_ex10-1.htm (EX-10.1) — 49KB
• 0001140361-24-011798.txt ( ) — 212KB
• snwv-20240306.xsd (EX-101.SCH) — 4KB
• snwv-20240306_lab.xml (EX-101.LAB) — 20KB
• snwv-20240306_pre.xml (EX-101.PRE) — 14KB
• ef20023331_8k_htm.xml (XML) — 4KB

01

Item 1.01 Entry into a Material Definitive Agreement. On March 6, 2024, Sanuwave Health, Inc. (the "Company") entered into a Consent, Limited Waiver and Fifth Amendment to Note and Warrant Purchase Agreement (the "Fifth Amendment") with NH Expansion Credit Fund Holdings LP (the "Agent") and the noteholders party thereto (the "Holders"). Pursuant to the Fifth Amendment, the Agent and the Holders (i) consented to entry by Sanuwave, Inc., a wholly owned subsidiary of the Company, into the License and Option Agreement and consummation of the License and Option Transaction (each as defined below), (ii) waived any event of default that may occur under the Note and Warrant Purchase Agreement, dated as of August 6, 2020 (the "NPA") by and among the Agent, the noteholders party thereto and the Company as a result of the License and Option Agreement or License and Option Transaction and (iii) amended the NPA to release the Patents (as defined below) from the collateral. The Agent and the Holders also agreed to continue to forbear upon exercising remedies in connection with certain existing events of default under the NPA until the earlier of (x) the occurrence of another event of default under the NPA and (y) April 30, 2024. During the forbearance period, the outstanding obligations under the NPA continue to accrue interest at the default rate. The foregoing description of the Fifth Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Fifth Amendment, which is filed as Exhibit 10.1 and is incorporated herein by reference.

01

Item 8.01 Other Events. On March 6, 2024, Sanuwave, Inc. entered into an exclusive license and option agreement (the "License and Option Agreement") with a third party licensee (the "Licensee") in connection with a portfolio of Sanuwave, Inc. patents related to the field of intravascular shockwave applications (the "Patents"). In exchange for a one-time payment of $2.5 million, Sanuwave, Inc. granted the Licensee an exclusive license to the Patents and an option to acquire the Patents for an additional one-time payment in the single-digit millions of dollars (the "License and Option Transaction"). If the Licensee does not exercise its option to acquire the Patents during a specified option period, the license terminates and all rights revert back to Sanuwave, Inc.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Consent, Limited Waiver and Fifth Amendment to Note and Warrant Purchase Agreement with NH Expansion Credit Fund Holdings LP and the noteholders party thereto, dated March 6, 2024 104 Cover Page Interactive Data File--the cover page XBRL tags are embedded within the Inline XBRL document.

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 hereunto duly authorized. SANUWAVE HEALTH, INC. Dated: March 6, 2024 By: /s/ Toni Rinow Name: Toni Rinow Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR