secwatch.observer — SEC 8-K summary
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Issuer:     STRATA Skin Sciences, Inc. (SSKN)
CIK:        0001051514
Form:       8-K
Filed at:   2024-02-21T23:59:59+00:00
Accession:  0001140361-24-008801
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Strata Skin Sciences obtains waiver of Q4 2023 covenant breach, amends credit facility
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- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1051514/000114036124008801/0001140361-24-008801-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1051514/000114036124008801/ef20022109_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-008801

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer