Venus Concept Inc. Files 8-K for Material Definitive Agreement
Ticker: VERO · Form: 8-K · Filed: Jun 25, 2024 · CIK: 1409269
| Field | Detail |
|---|---|
| Company | Venus Concept Inc. (VERO) |
| Form Type | 8-K |
| Filed Date | Jun 25, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, corporate-filing
TL;DR
Venus Concept Inc. just signed a big deal, filing an 8-K. Keep an eye on this.
AI Summary
Venus Concept Inc. announced on June 21, 2024, that it entered into a Material Definitive Agreement. The company, formerly known as Restoration Robotics, Inc., is incorporated in Delaware and headquartered in Toronto, Ontario. This filing is a current report under the Securities Exchange Act of 1934.
Why It Matters
This filing indicates a significant contractual development for Venus Concept Inc., which could impact its business operations and financial standing.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.
Key Numbers
- 001-38238 — SEC File Number (Identifies the company's filing history with the SEC.)
- 06-1681204 — IRS Employer Identification Number (Company's tax identification number.)
Key Players & Entities
- Venus Concept Inc. (company) — Registrant
- Restoration Robotics, Inc. (company) — Former company name
- June 21, 2024 (date) — Date of earliest event reported
- 235 Yorkland Blvd , Suite 900 Toronto , Ontario M2J 4Y8 (address) — Principal executive offices
FAQ
What is the nature of the Material Definitive Agreement?
The filing does not specify the details of the Material Definitive Agreement, only that one has been entered into as of June 21, 2024.
When was Venus Concept Inc. formerly known as Restoration Robotics, Inc.?
The company's name changed from Restoration Robotics, Inc. on November 21, 2017.
Where are Venus Concept Inc.'s principal executive offices located?
The principal executive offices are located at 235 Yorkland Blvd, Suite 900, Toronto, Ontario M2J 4Y8.
What is the filing date of this 8-K report?
The report was filed on June 25, 2024, with the earliest event reported on June 21, 2024.
Under which section of the Securities Exchange Act is this report filed?
This is a Current Report filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 880 words · 4 min read · ~3 pages · Grade level 11.7 · Accepted 2024-06-25 16:15:32
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share VERO The Nasdaq
Filing Documents
- ef20031664_8k.htm (8-K) — 34KB
- ef20031664_ex10-1.htm (EX-10.1) — 54KB
- ef20031664_ex10-2.htm (EX-10.2) — 42KB
- 0001140361-24-031301.txt ( ) — 282KB
- vero-20240621.xsd (EX-101.SCH) — 4KB
- vero-20240621_lab.xml (EX-101.LAB) — 21KB
- vero-20240621_pre.xml (EX-101.PRE) — 16KB
- ef20031664_8k_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. Note Amendment and Consent Amendment On June 21, 2024, Venus Concept Inc. (the " Company "), Venus Concept USA, Inc., a wholly-owned subsidiary of the Company (" Venus USA "), Venus Concept Canada Corp., a wholly-owned Canadian subsidiary of the Company (" Venus Canada "), and Venus Concept Ltd., a wholly-owned Israeli subsidiary of the Company (" Venus Israel " and together with the Company, Venus USA and Venus Canada, the " Loan Parties "), entered into a Note Amendment and Consent Agreement with Madryn Health Partners, LP (" Madryn ") and Madryn Health Partners (Cayman Master), LP (" Madryn Cayman ," and together with Madryn, the " Lenders ") (the " Amendment and Consent Agreement "). The Amendment and Consent Agreement granted relief under the Loan and Security Agreement (Main Street Priority Loan), dated December 8, 2020, among the Lenders, as lenders, and Venus USA, as borrower (the " MSLP Loan Agreement "), such that certain minimum liquidity requirements under the MSLP Loan Agreement are waived through July 8, 2024. The Amendment and Consent Agreement also amended the secured convertible notes, dated May 24, 2024, issued by Venus USA to the Lenders under the MSLP Loan Agreement (the " Notes "), to (i) permit Venus USA to apply the July 8, 2024, cash interest payment due under each Note to the outstanding principal balance of the Note and (ii) clarify that the maturity date of each Note is December 8, 2025. The foregoing description of the Amendment and Consent Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment and Consent Agreement, a copy of which is filed hereto as Exhibit 10.1. Third Bridge Loan Amendment On June 21, 2024, the Loan Parties entered into a Third Bridge Loan Amendment Agreement with the Lenders (the " Third Bridge Loan Amendment "). The Third Bridge Loan Amendment amended that certain Loan and Security Agre
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit No. Description 10.1 Note Amendment and Consent Agreement, dated June 21, 2024, by and among Venus Concept Inc., Venus Concept Canada Corp., Venus Concept USA Inc., Venus Concept Ltd., Madryn Health Partners, LP and Madryn Health Partners (Cayman Master), LP 10.2 Third Amendment to Bridge Loan Agreement, dated June 21, 2024, by and among Venus Concept USA, Inc., Venus Concept Inc., Venus Concept Canada Corp., Venus Concept Ltd., Madryn Health Partners, LP and Madryn Health Partners (Cayman Master), LP 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VENUS CONCEPT INC. Date: June 25, 2024 By: /s/ Domenic Della Penna Domenic Della Penna Chief Financial Officer