Venus Concept Inc. Files 8-K on Material Agreement
Ticker: VERO · Form: 8-K · Filed: Jan 7, 2025 · CIK: 1409269
| Field | Detail |
|---|---|
| Company | Venus Concept Inc. (VERO) |
| Form Type | 8-K |
| Filed Date | Jan 7, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, financial-statements, exhibits
TL;DR
Venus Concept signed a big deal, filing 8-K on Dec 31, 2024.
AI Summary
Venus Concept Inc. filed an 8-K on January 7, 2025, reporting on events as of December 31, 2024. The filing primarily concerns the entry into a material definitive agreement and includes financial statements and exhibits. The company, formerly 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 financial performance and strategic direction.
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
- Restoration Robotics, Inc. (company) — Former company name
- December 31, 2024 (date) — Date of earliest event reported
- January 7, 2025 (date) — Date of report
FAQ
What is the nature of the material definitive agreement Venus Concept Inc. entered into?
The filing indicates the entry into a material definitive agreement, but the specific details of the agreement are not provided in this summary.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was as of December 31, 2024.
What was Venus Concept Inc. formerly known as?
Venus Concept Inc. was formerly known as Restoration Robotics, Inc.
Where is Venus Concept Inc. headquartered?
Venus Concept Inc. is headquartered 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.
Filing Stats: 838 words · 3 min read · ~3 pages · Grade level 11.9 · Accepted 2025-01-07 07:30:26
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share VERO The Nasdaq
Filing Documents
- ef20041155_8k.htm (8-K) — 33KB
- ef20041155_ex10-1.htm (EX-10.1) — 55KB
- ef20041155_ex10-2.htm (EX-10.2) — 50KB
- 0001140361-25-000373.txt ( ) — 290KB
- vero-20241231.xsd (EX-101.SCH) — 4KB
- vero-20241231_lab.xml (EX-101.LAB) — 21KB
- vero-20241231_pre.xml (EX-101.PRE) — 16KB
- ef20041155_8k_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. Consent Agreement On December 31, 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 January 31, 2025, and (ii) permit Venus USA to apply the January 8, 2025 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. Tenth Bridge Loan Amendment On December 31, 2024, the Loan Parties entered into a Tenth Bridge Loan Amendment Agreement with the Lenders (the "Tenth Bridge Loan Amendment"). The Tenth Bridge Loan Amendment amended the 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 Financing ") to extend the maturity date of the Bridge Financing from December 31, 2024 to January 31, 2025
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit No. Description 10.1 Consent Agreement, dated December 31, 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 Tenth Amendment to Bridge Loan Agreement, dated December 31, 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: January 7, 2025 By: /s/ Domenic Della Penna Domenic Della Penna Chief Financial Officer