Venus Concept Inc. Files 8-K with Material Agreement
Ticker: VERO · Form: 8-K · Filed: Sep 5, 2024 · CIK: 1409269
| Field | Detail |
|---|---|
| Company | Venus Concept Inc. (VERO) |
| Form Type | 8-K |
| Filed Date | Sep 5, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, corporate-action
TL;DR
Venus Concept signed a big deal on 8/30, check the 8-K.
AI Summary
Venus Concept Inc. entered into a Material Definitive Agreement on August 30, 2024. The filing also includes financial statements and exhibits. The company, previously known as Restoration Robotics, Inc., is incorporated in Delaware and headquartered in Toronto, Ontario.
Why It Matters
This 8-K filing indicates a significant new agreement for Venus Concept Inc., which could impact its business operations and financial performance.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.
Key Players & Entities
- Venus Concept Inc. (company) — Registrant
- August 30, 2024 (date) — Date of earliest event reported
- Restoration Robotics, Inc. (company) — Former company name
- Delaware (jurisdiction) — State of incorporation
- Toronto, Ontario (location) — Principal executive offices
FAQ
What is the nature of the Material Definitive Agreement entered into by Venus Concept Inc. on August 30, 2024?
The filing indicates the entry into a Material Definitive Agreement on August 30, 2024, but the specific details of the agreement are not provided in this excerpt.
When was Venus Concept Inc. previously known as Restoration Robotics, Inc.?
The company was formerly known as Restoration Robotics, Inc. with a date of name change on November 21, 2017.
Where are Venus Concept Inc.'s principal executive offices located?
Venus Concept Inc.'s principal executive offices are located at 235 Yorkland Blvd, Suite 900, Toronto, Ontario M2J 4Y8.
What is the SIC code for Venus Concept Inc.?
The Standard Industrial Classification (SIC) code for Venus Concept Inc. is 3841, which corresponds to SURGICAL & MEDICAL INSTRUMENTS & APPARATUS.
What is the fiscal year end for Venus Concept Inc.?
The fiscal year end for Venus Concept Inc. is December 31.
Filing Stats: 830 words · 3 min read · ~3 pages · Grade level 11.6 · Accepted 2024-09-05 16:15:40
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share VERO The Nasdaq
Filing Documents
- e20035481_8k.htm (8-K) — 33KB
- ef20035481_ex10-1.htm (EX-10.1) — 52KB
- ef20035481_ex10-2.htm (EX-10.2) — 45KB
- 0001140361-24-040234.txt ( ) — 280KB
- vero-20240830.xsd (EX-101.SCH) — 4KB
- vero-20240830_lab.xml (EX-101.LAB) — 21KB
- vero-20240830_pre.xml (EX-101.PRE) — 16KB
- e20035481_8k_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. Consent Agreement On August 30, 2024, Venus Concept Inc. (the " Company "), Venus Concept USA, Inc., a wholly-owned subsidiary of the Company (" Venus USA " or " Borrower "), 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 Consent Agreement with Madryn Health Partners, LP (" Madryn ") and Madryn Health Partners (Cayman Master), LP (" Madryn Cayman ," and together with Madryn, the " Lenders ") (the " Consent Agreement "). The 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 (i) certain minimum liquidity requirements under the MSLP Loan Agreement are waived through September 30, 2024, and (ii) permit Venus USA to apply the September 8, 2024 cash interest payment due under each Note (as defined in the Consent Agreement) to the respective outstanding principal balance of each Note. The foregoing description of the Consent Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Consent Agreement, a copy of which is filed hereto as Exhibit 10.1. Sixth Bridge Loan Amendment On August 30, 2024, the Loan Parties entered into a Sixth Bridge Loan Amendment Agreement with the Lenders (the " Sixth Bridge Loan Amendment "). The Sixth Bridge Loan Amendment amended that certain Loan and Security Agreement, dated April 23, 2024, among Venus USA, as borrower, the Company, Venus Canada and Venus Israel, as guarantors, and the Lenders, as lenders (as amended from time to time, the " Bridge Loan "), to extend the maturity date of the Bridge Loan from August 30, 20
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit No. Description 10.1 Consent Agreement, dated August 30, 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 Sixth Amendment to Bridge Loan Agreement, dated August 30, 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: September 5, 2024 By: /s/ Domenic Della Penna Domenic Della Penna Chief Financial Officer