debt
confidence high
sentiment neutral
materiality 0.50
Sonendo amends credit agreement; extends Tranche 2 & 3 borrowing deadlines
Sonendo, Inc.
- Tranche 2 borrowing deadline extended to Sept 30, 2022, subject to $36M revenue over trailing 12 months.
- Tranche 3 borrowing deadline extended to June 30, 2023, subject to $46M revenue and $100M market cap condition.
- Warrants exercise price reduced to $12.00 per share for 304,105 shares held by Perceptive.
- Amendment also modifies conditions for Tranche 3 loan notice timing and milestones.