---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-033456"
form_type: "8-K"
ticker: "SSKN"
cik: "0001051514"
company_name: "STRATA Skin Sciences, Inc."
filed_at: "2023-07-06T23:59:59+00:00"
generated_at: "2026-06-13T11:32:56.728623+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Strata Skin Sciences completes $15M debt refinancing with MidCap; adds $7M new tranche, option for $5M more in 2024

## Summary
- Refinanced existing $8M term loan and drew $7M new tranche on June 30, 2023 from MidCap Financial.
- Total debt facility $20M with an additional $5M tranche available upon meeting revenue condition in 2024.
- Interest rate: Adjusted Term SOFR plus 7.50% (floor 3.50%); interest-only through June 2026, maturity June 1, 2028.
- Amended warrant: 800,000 shares at $0.88 exercise price, exercisable until June 2033; shares to be registered.
- Company increased cash to ~$10M, strengthening balance sheet and avoiding near-term equity raise.

## SEC filing metadata
- accession: 0001140361-23-033456
- form_type: 8-K
- ticker: SSKN
- cik: 0001051514
- company_name: STRATA Skin Sciences, Inc.
- filed_at: 2023-07-06T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1051514/000114036123033456/0001140361-23-033456-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1051514/000114036123033456/brhc20055586_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-033456
- JSON: https://secwatch.observer/filing/0001140361-23-033456.json
- Plain text: https://secwatch.observer/filing/0001140361-23-033456.txt

## Key facts
- Debt Financings
  STRATA Skin Sciences, Inc. incurred term loan of $7.0 million with MidCap Financial Trust at greater of (i) 30-day SOFR + 0.10% and (ii) 3.50% floor, plus 7.50% maturing June 1, 2028.
  - Instrument: term loan
  - Principal: $7.0 million
  - Counterparty: MidCap Financial Trust
  - Rate: greater of (i) 30-day SOFR + 0.10% and (ii) 3.50% floor, plus 7.50%
  - Maturity: June 1, 2028
  - Event: incurrence
  source text: Agreement (the “Amendment”) among MidCap Financial Trust (“MidCap”), as administrative agent, and the lenders identified therein, which amended the Credit and Security Agreement, dated as of September 30, 2021, as amended January 10, 2022 and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051514/000114036123033456/0001140361-23-033456-index.htm
- Debt Financings
  STRATA Skin Sciences, Inc. amended credit facility of senior secured term loan facility of $20.0 million with MidCap Financial Trust at greater of (i) 30-day SOFR + 0.10% and (ii) 3.50% floor, plus 7.50% maturing June 1, 2028.
  - Instrument: credit facility
  - Principal: senior secured term loan facility of $20.0 million
  - Counterparty: MidCap Financial Trust
  - Rate: greater of (i) 30-day SOFR + 0.10% and (ii) 3.50% floor, plus 7.50%
  - Maturity: June 1, 2028
  - Event: amendment
  source text: The MidCap Credit Agreement provides for a senior secured term loan facility of $20.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051514/000114036123033456/0001140361-23-033456-index.htm
- Material Agreements
  STRATA Skin Sciences, Inc. amended Amended and Restated Warrant Agreement with MidCap Funding XXVII Trust valued at Amended and restated warrant agreement to purchase shares of common stock. (effective 2023-06-30).
  - Action: amendment
  - Counterparty: MidCap Funding XXVII Trust
  - Value: Amended and restated warrant agreement to purchase shares of common stock.
  - Effective: 2023-06-30
  source text: (b) the Amended and Restated Warrant Agreement (the “A&R Warrant”) with MidCap Funding XXVII Trust (together with any registered holder from time to time or any holder of the shares issuable or issued upon the exercise or conversion of the Warrant, the “Warrantholder”), which amended and restated the warrant agreement to purchase shares of the common stock of the Company, dated as of September 30, 2021
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051514/000114036123033456/0001140361-23-033456-index.htm
- Material Agreements
  STRATA Skin Sciences, Inc. amended Amendment No. 3 to Credit and Security Agreement with MidCap Financial Trust valued at Amendment to Credit and Security Agreement, providing for senior secured term loan facility of $20.0 (effective 2023-06-30).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: MidCap Financial Trust
  - Value: Amendment to Credit and Security Agreement, providing for senior secured term loan facility of $20.0
  - Effective: 2023-06-30
  source text: On June 30, 2023, STRATA Skin Sciences, Inc. (the “Company”) entered into (a) the Amendment No. 3 to Credit and Security Agreement (the “Amendment”) among MidCap Financial Trust (“MidCap”), as administrative agent, and the lenders identified therein, which amended the Credit and Security Agreement, dated as of September 30, 2021, as amended January 10, 2022 and September 6, 2022 (as amended by the Amendment, the “MidCap Credit Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051514/000114036123033456/0001140361-23-033456-index.htm
- Material Agreements
  STRATA Skin Sciences, Inc. amended Amended and Restated Registration Rights Agreement with MidCap Funding XXVII Trust valued at Amended and restated registration rights agreement. (effective 2023-06-30).
  - Action: amendment
  - Counterparty: MidCap Funding XXVII Trust
  - Value: Amended and restated registration rights agreement.
  - Effective: 2023-06-30
  source text: (c) the Amended and Restated Registration Rights Agreement (the “A&R Registration Rights Agreement”) with the Warrantholder, which amended and restated the registration rights agreement, dated as of September 30, 2021, with the Warrantholder
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051514/000114036123033456/0001140361-23-033456-index.htm
- Material Agreements
  STRATA Skin Sciences, Inc. entered into Fee Letter Agreement with MidCap Financial Trust valued at Letter agreement with MidCap as agent. (effective 2023-06-30).
  - Action: entry
  - Counterparty: MidCap Financial Trust
  - Value: Letter agreement with MidCap as agent.
  - Effective: 2023-06-30
  source text: Agreement (the “Amendment”) among MidCap Financial Trust (“MidCap”), as administrative agent, and the lenders identified therein, which amended the Credit and Security Agreement, dated as of September 30, 2021, as amended January 10, 2022 and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051514/000114036123033456/0001140361-23-033456-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.