Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Sonendo, Inc. amended credit facility with Perceptive Credit Holdings III, LP.
- Instrument
- credit facility
- Counterparty
- Perceptive Credit Holdings III, LP
- Event
- amendment
Exact text from the filing
the Company entered to Amendment No. 3 (the "Amendment") to its Amended and Restated Credit Agreement and Guaranty, dated as of August 23, 2021, by and among the Company, the subsidiary guarantors named therein, the lenders party thereto and Perceptive Credit Holdings III, LP, as amended (the "Credit Agreement"). The Amendment amended the Credit Agreement to include a one-time $15.0 million principal repayment and initiate monthly principal repayments beginning in March 2024 along with modifications to certain other terms including revenue covenants.
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Sonendo, Inc. completed a disposition involving Valsoft Corporation Inc. and Aspire USA LLC for approximately $16.0 million, with $15.0 million paid upon the Effective Date and the balance due in approximately 12 months (closed 2024-03-01).
- Action
- disposition
- Counterparty
- Valsoft Corporation Inc. and Aspire USA LLC
- Consideration
- approximately $16.0 million, with $15.0 million paid upon the Effective Date and the balance due in approximately 12 months
- Closing
- 2024-03-01
Exact text from the filing
On March 1, 2024 (the “Effective Date”), TDO Software, Inc., a California corporation (“TDO”) and a wholly-owned subsidiary of Sonendo, Inc. (the “Company”), entered into an Asset Purchase Agreement (the “Purchase Agreement”) by and among TDO, Valsoft Corporation Inc., a Quebec corporation (“Valsoft”), and Aspire USA LLC, a Delaware limited liability company and affiliate of Valsoft (together with Valsoft, the “Purchasers”), pursuant to which TDO agreed to sell to the Purchasers specified assets relating to the Company’s Software Segment assets comprised of TDO Software, the Company’s end-to-end practice management software for the endodontic industry (the “Business”), and the Purchasers agreed to assume certain liabilities relating to such business (the “Transaction”). As consideration for the Transaction, the Purchasers agreed to pay TDO approximately $16.0 million, with $15.0 million paid upon the Effective Date and the balance due in approximately 12 months pursuant to the terms of
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