{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-24-008801","form_type":"8-K","ticker":"SSKN","cik":"0001051514","company_name":"STRATA Skin Sciences, Inc.","filed_at":"2024-02-21T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.236495+00:00","generated_at":"2026-06-05T21:38:03.576212+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Strata Skin Sciences obtains waiver of Q4 2023 covenant breach, amends credit facility","bullets":["Received limited waiver from MidCap for December 31, 2023 minimum net revenue covenant default.","New minimum net revenue thresholds for 2024: $29.0M (Q1), $29.25M (Q2), $29.5M (Q3), $30.0M (Q4).","Exit fee set at 4.0% of total principal borrowed; partial prepayment triggers proportionate fee.","Amended fee letter includes origination fees on future Credit Facility #3 draws at 0.50%."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-24-008801","json":"https://secwatch.observer/filing/0001140361-24-008801.json","markdown":"https://secwatch.observer/filing/0001140361-24-008801.md","text":"https://secwatch.observer/filing/0001140361-24-008801.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1051514/000114036124008801/0001140361-24-008801-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1051514/000114036124008801/ef20022109_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T21:38:03.576212+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1db6ae04ae0d3af55452cfe11f4e3689a5b8b8bd","claim":"STRATA Skin Sciences, Inc. entered into Amendment No. 4 to Credit and Security Agreement with MidCap Financial Trust valued at Amendment to credit agreement revising minimum net revenue financial covenants to $29.0M, $29.25M, $ (effective 2024-02-20).","evidence_excerpt":"On February 20, 2024, STRATA Skin Sciences, Inc. (the “Company”) entered into (a) the Amendment No. 4 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, September 6, 2022 and June 30, 2023 (as amended by the Amendment, the “MidCap Credit Agreement”), and (b) a second amended and restated letter agreement (the “Second Amended and Restated Fee Letter Agreement”) with MidCap, as agent.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1051514/000114036124008801/0001140361-24-008801-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"MidCap Financial Trust"},{"label":"Value","value":"Amendment to credit agreement revising minimum net revenue financial covenants to $29.0M, $29.25M, $"},{"label":"Effective","value":"2024-02-20"}],"fact_type":"material_agreement"},{"claim_id":"3841c127ffca2fc84c317bc03798c8e7ecfa2c12","claim":"STRATA Skin Sciences, Inc. entered into Second Amended and Restated Fee Letter Agreement with MidCap Financial Trust valued at Fee letter agreement setting forth origination fees and exit fees related to the MidCap Credit Agree (effective 2024-02-20).","evidence_excerpt":"On February 20, 2024, STRATA Skin Sciences, Inc. (the “Company”) entered into (a) the Amendment No. 4 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, September 6, 2022 and June 30, 2023 (as amended by the Amendment, the “MidCap Credit Agreement”), and (b) a second amended and restated letter agreement (the “Second Amended and Restated Fee Letter Agreement”) with MidCap, as agent.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1051514/000114036124008801/0001140361-24-008801-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"MidCap Financial Trust"},{"label":"Value","value":"Fee letter agreement setting forth origination fees and exit fees related to the MidCap Credit Agree"},{"label":"Effective","value":"2024-02-20"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}