Allurion Technologies Amends Credit Facility, Prepaids $20M and Secures Covenant Relief

ALLURION TECHNOLOGIES, INC.

Waived December 31, 2023 minimum revenue covenant test under existing credit agreement with Fortress Credit Corp.
Increased minimum liquidity requirement to $33.5M through March 31, 2024, stepping down to $12.5M by October 1, 2024.
Lenders may convert up to $20M of loans into common stock after March 31, 2024 at a 30-day VWAP-based conversion price.
Prepaid $20M of outstanding principal plus capitalized fees on the amendment effective date December 29, 2023.
Modified certain operating covenants and made conforming changes to the credit agreement.

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

ALLURION TECHNOLOGIES, INC. amended Amendment No. 1 to Credit Agreement and Guaranty with Fortress Credit Corp., as administrative agent, and the lenders party thereto (effective 2023-12-29).

Action: amendment
Agreement: credit facility
Counterparty: Fortress Credit Corp., as administrative agent, and the lenders party thereto
Effective: 2023-12-29

Exact text from the filing

On December 29, 2023 (the “Amendment Effective Date”), Allurion Technologies, Inc. (the “Company”) and its wholly-owned subsidiaries Allurion Technologies, LLC (the “Borrower”) and Allurion Australia Pty Ltd, entered into Amendment No. 1 (the “Amendment”) to the Credit Agreement and Guaranty, dated as of August 1, 2023 (the “Existing Credit Agreement”; as amended by the Amendment, the “Credit Agreement”), by and among the Company, the Borrower, the subsidiary guarantors from time to time party thereto, the lenders from time to time party thereto (the “Lenders” and each, a “Lender”) and Fortress Credit Corp., as administrative agent for the Lenders (“Fortress”).

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Source: SEC EDGAR

accession 0001193125-23-306003

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