Sanuwave Health issues $4.6M convertible notes & warrants to existing note holders; no cash proceeds

SANUWAVE Health, Inc.

Issued $4.6M principal amount of Future Advance Convertible Promissory Notes at 15% interest, convertible at $0.04/share, to prior ABL note holders.
Issued Warrants to purchase 113.9M shares at $0.067 and 113.9M shares at $0.04, exercisable for 5 years.
No cash proceeds; notes and warrants exchanged for prior $4.6M ABL notes issued July 2023 at 33% OID.
Entered subordination agreement with NH Expansion Credit Fund Holdings LP; North Haven holds senior rights.
Waiver letter postpones obligations for reverse stock split, share reserve, and registration statement filing through Dec 31, 2024.

Key facts

Extracted from this filing and checked against the source text.

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

SANUWAVE Health, Inc. entered into Securities Purchase Agreement with certain accredited investors valued at aggregate principal amount of approximately $4.6 million (effective 2024-01-21).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: aggregate principal amount of approximately $4.6 million
Effective: 2024-01-21

Exact text from the filing

On January 21, 2024, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”), with the Purchasers for the sale by the Company in a private placement (the “January Private Placement”) of (i) the Company’s Future Advance Convertible Promissory Notes in an aggregate principal amount of approximately $4.6 million

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SANUWAVE Health, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-24-003890

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