VAPOTHERM INC: debt financing — Vapotherm enters $4M Term Loan B maturing July 2024 at SOFR+8.4% with weekly cash flow reporting

VAPOTHERM INC

Interest rate = 1-month CME Term SOFR + SOFR adjustment + 8.30% + 0.10% (effective ~SOFR+8.4%).
Maturity on July 26, 2024; no scheduled amortization, full principal due at maturity.
Draws subject to lender investment committee approval; initial $2M then two $1M advances with 20-day intervals.
Amended covenants: weekly cash flow forecasting and bi-weekly revenue reports required.
All existing loan documents, guarantees, and security interests reaffirmed and remain in full force.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VAPOTHERM INC incurred term loan of $4.0 million senior secured term loan B facility with SLR Investment Corp., as Collateral Agent, and the lenders party thereto at floating rate per annum equal to the sum of (a) 0.10%, plus (b) 8.30% plus (c) t maturing July 26, 2024.

Instrument: term loan
Principal: $4.0 million senior secured term loan B facility
Counterparty: SLR Investment Corp., as Collateral Agent, and the lenders party thereto
Rate: floating rate per annum equal to the sum of (a) 0.10%, plus (b) 8.30% plus (c) t
Maturity: July 26, 2024
Event: incurrence

Exact text from the filing

lenders party thereto (the “Seventh Amendment,” together with the Loan and Security Agreement, the “Amended Loan and Security Agreement”). The Seventh Amendment established a $4.0 million senior secured term loan B facility (the “Term Loan B Facility”). Borrowings under the Term Loan B Facility shall bear interest at a at a floating rate per annum equal to the sum

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VAPOTHERM INC amended Amendment No. 7 to Loan and Security Agreement with SLR Investment Corp., as Collateral Agent, and the lenders party thereto valued at $4.0 million senior secured term loan B facility (effective 2024-03-26).

Action: amendment
Agreement: credit facility
Counterparty: SLR Investment Corp., as Collateral Agent, and the lenders party thereto
Value: $4.0 million senior secured term loan B facility
Effective: 2024-03-26

Exact text from the filing

On March 26, 2024 (the “Effective Date”), Vapotherm, Inc. (the “Company”) entered into an Amendment No. 7 to Loan and Security Agreement with SLR Investment Corp., as Collateral Agent, and the lenders party thereto (the “Seventh Amendment,” together with the Loan and Security Agreement, the “Amended Loan and Security Agreement”). The Seventh Amendment established a $4.0 million senior secured term loan B facility (the “Term Loan B Facility”).

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Source: SEC EDGAR

accession 0000950170-24-039374

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