SANUWAVE Health, Inc. (SNWV): debt financing — SANUWAVE extends forbearance on defaulted notes to Dec 2023; must raise $2.5M by July 15

SANUWAVE Health, Inc.

Forbearance of remedies extended to earlier of an Event of Default or December 31, 2023.
Non-refundable consent fee of 2% of original principal added, payable at maturity.
Interest due June 30 and Sept 30, 2023 deferred and compounded at 20.25% per annum, added to principal.
New covenant: complete equity financing for at least $2.5 million gross proceeds by July 15, 2023.
Chief Talent Officer Lisa Sundstrom no longer qualifies as an officer under SEC Rule 16a-1(f).

item 1.01 item 2.03 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Lisa Sundstrom

Chief Talent Officer and Secretary

SNWV · SANUWAVE Health, Inc.

Effective: 2023-06-26
Filed: June 29, 2023, 7:59 PM ET

determined that Ms. Sundstrom no longer satisfies the definition of "officer" set forth in Rule 16a-1(f) promulgated under the Securities Exchange Act of 1934

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

SANUWAVE Health, Inc. amended credit facility of original principal amount of the notes with NH Expansion Credit Fund Holdings LP at 20.25% per annum.

Instrument: credit facility
Principal: original principal amount of the notes
Counterparty: NH Expansion Credit Fund Holdings LP
Rate: 20.25% per annum
Event: amendment

Exact text from the filing

On June 23, 2023, SANUWAVE Health, Inc., a Nevada corporation (the “Company”), entered into a Fourth Amendment to Note and Warrant Purchase and Security Agreement (the “Amendment”), which amends that certain Note and Warrant Purchase and Security Agreement, dated as of August 6, 2020 (as amended, the “NWPSA”), with the noteholder party thereto (the “Holder”) and NH Expansion Credit Fund Holdings LP, as agent (the “Agent”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Lisa Sundstrom changed role as Chief Talent Officer and Secretary at SANUWAVE Health, Inc..

Action: no longer satisfies definition of officer
Role: Chief Talent Officer and Secretary

Exact text from the filing

determined that Ms. Sundstrom no longer satisfies the definition of "officer" set forth in Rule 16a-1(f) promulgated under the Securities Exchange Act of 1934

View on SEC.gov

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

SANUWAVE Health, Inc. amended Fourth Amendment to Note and Warrant Purchase and Security Agreement with the noteholder party thereto (the "Holder") and NH Expansion Credit Fund Holdings LP, as agent (effective 2023-06-23).

Action: amendment
Agreement: credit facility
Counterparty: the noteholder party thereto (the "Holder") and NH Expansion Credit Fund Holdings LP, as agent
Effective: 2023-06-23

Exact text from the filing

On June 23, 2023, SANUWAVE Health, Inc., a Nevada corporation (the “Company”), entered into a Fourth Amendment to Note and Warrant Purchase and Security Agreement (the “Amendment”), which amends that certain Note and Warrant Purchase and Security Agreement, dated as of August 6, 2020 (as amended, the “NWPSA”), with the noteholder party thereto (the “Holder”) and NH Expansion Credit Fund Holdings LP, as agent (the “Agent”).

View on SEC.gov

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SANUWAVE Health, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-032184

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