---
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"
generated_at: "2026-06-05T21:38:03.576212+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Strata Skin Sciences obtains waiver of Q4 2023 covenant breach, amends credit facility

## Summary
- 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%.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-008801
- JSON: https://secwatch.observer/filing/0001140361-24-008801.json
- Plain text: https://secwatch.observer/filing/0001140361-24-008801.txt

## Key facts
- Material Agreements
  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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: MidCap Financial Trust
  - Value: Amendment to credit agreement revising minimum net revenue financial covenants to $29.0M, $29.25M, $
  - Effective: 2024-02-20
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1051514/000114036124008801/0001140361-24-008801-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: MidCap Financial Trust
  - Value: Fee letter agreement setting forth origination fees and exit fees related to the MidCap Credit Agree
  - Effective: 2024-02-20
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1051514/000114036124008801/0001140361-24-008801-index.htm

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