secwatch.observer — SEC 8-K summary
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Issuer:     Sonendo, Inc. (SONX)
CIK:        0001407973
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0000950170-24-024997
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sonendo sells TDO Software for ~$16M, repays $15M debt to Perceptive Credit
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- Sold TDO Software assets to Valsoft for ~$16.0M total; $15.0M paid at closing, balance in ~12 months.
- Used $15.0M closing payment for one-time principal repayment on Perceptive Credit loan.
- Credit agreement amended to initiate monthly principal payments starting March 2024 and modify revenue covenants.
- Company will focus solely on GentleWave System after divestiture; TDO employees to receive comparable offers from Valsoft.
- Stifel served as financial advisor; Reed Smith as legal counsel.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1407973/000095017024024997/0000950170-24-024997-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1407973/000095017024024997/sonx-20240301.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-024997

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer