Verrica amends credit deal with OrbiMed; revenue test delayed, exit fee hiked, going concern waived

Verrica Pharmaceuticals Inc.

Revenue test under Credit Agreement now begins December 31, 2024, instead of earlier date.
Lenders waived going concern qualification requirement for Q2 and Q3 2024 financial statements.
Exit Fee on Initial Loans increased from 5.00% to 7.50%.
YCANTH net revenue must meet specified thresholds to avoid principal payments under amended terms.
Fifth Amendment modifies July 2023 Credit Agreement; other terms unchanged.

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