{"schema_version":"secwatch.filing_event.v1","accession":"0000719135-23-000009","form_type":"8-K","ticker":"APYX","cik":"0000719135","company_name":"Apyx Medical Corp","filed_at":"2023-02-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.866663+00:00","generated_at":"2026-06-19T01:02:25.447434+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Apyx Medical enters $35M credit facility with MidCap Financial; initial $10M funded","bullets":["Up to $25M senior secured term loan (initial $10M funded) plus $10M revolver; matures Feb 1, 2028.","Term loan bears SOFR + 7.35% (floor 2.5%); revolver SOFR + 4.0%; 24-month interest-only period.","Warrants issued to MidCap to purchase 250,000 shares at $3.40 per share.","Covenants include minimum Advanced Energy revenue targets of $49M (2023), $60M (2024), $70M (2025) and $10M cash balance.","Net proceeds of ~$8M at close plus expected $7.5M+ cash tax refunds to fund growth initiatives."],"urls":{"canonical":"https://secwatch.observer/filing/0000719135-23-000009","json":"https://secwatch.observer/filing/0000719135-23-000009.json","markdown":"https://secwatch.observer/filing/0000719135-23-000009.md","text":"https://secwatch.observer/filing/0000719135-23-000009.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/719135/000071913523000009/0000719135-23-000009-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/719135/000071913523000009/apyx-20230217.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-19T01:02:25.447434+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b54a85d4a095d59f8e57b930702437c4aeb8a665","claim":"Apyx Medical Corp incurred revolving credit of up to $10 million with MidCap Funding IV Trust at Adjusted Term SOFR, subject to a floor of 2.5%, plus 4% maturing February 1, 2028.","evidence_excerpt":"The secured revolving facility provides for loans in an aggregate principal amount of up to $10 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/719135/000071913523000009/0000719135-23-000009-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"up to $10 million"},{"label":"Counterparty","value":"MidCap Funding IV Trust"},{"label":"Rate","value":"Adjusted Term SOFR, subject to a floor of 2.5%, plus 4%"},{"label":"Maturity","value":"February 1, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"da644aa2df00f03d784e47956fd6f0c6a65b7751","claim":"Apyx Medical Corp incurred term loan of $10 million with MidCap Funding IV Trust at Adjusted Term SOFR, subject to a floor of 2.5%, plus 7.35% maturing February 1, 2028.","evidence_excerpt":"17, 2023, Apyx Medical Corporation (the “Company”) entered into a Credit, Security and Guaranty Agreement (the “Credit Agreement”), by and among the Company (as borrower) and Apyx China Holding Corp., the Company’s wholly-owned subsidiary (as guarantor), and MidCap Funding IV Trust (as agent), and MidCap Financial Trust (as term loan servicer), and the lenders party thereto from time to time.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/719135/000071913523000009/0000719135-23-000009-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$10 million"},{"label":"Counterparty","value":"MidCap Funding IV Trust"},{"label":"Rate","value":"Adjusted Term SOFR, subject to a floor of 2.5%, plus 7.35%"},{"label":"Maturity","value":"February 1, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"4e6c3554bf0d44cfc4e544c376b12c00c3f5cde2","claim":"Apyx Medical Corp entered into Credit, Security and Guaranty Agreement with MidCap Funding IV Trust (as agent), and MidCap Financial Trust (as term loan servicer), and the lenders party thereto valued at up to $35 million (effective 2023-02-17).","evidence_excerpt":"On February 17, 2023, Apyx Medical Corporation (the “Company”) entered into a Credit, Security and Guaranty Agreement (the “Credit Agreement”), by and among the Company (as borrower) and Apyx China Holding Corp., the Company’s wholly-owned subsidiary (as guarantor), and MidCap Funding IV Trust (as agent), and MidCap Financial Trust (as term loan servicer), and the lenders party thereto from time to time. The Credit Agreement provides for an up to $35 million facility","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/719135/000071913523000009/0000719135-23-000009-index.htm","confidence":1.0,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"MidCap Funding IV Trust (as agent), and MidCap Financial Trust (as term loan servicer), and the lenders party thereto"},{"label":"Value","value":"up to $35 million"},{"label":"Effective","value":"2023-02-17"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}