{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-040084","form_type":"8-K","ticker":"APYX","cik":"0000719135","company_name":"Apyx Medical Corp","filed_at":"2023-11-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.811547+00:00","generated_at":"2026-06-08T08:07:37.318217+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Apyx Medical enters up to $45M debt facility with Perceptive, replaces MidCap loan","bullets":["Initial $37.5M funded Nov 8; up to $7.5M delayed draw available through Dec 31, 2024 subject to conditions.","Proceeds used to repay ~$11M of MidCap debt (incl. ~$1M prepayment penalties) and ~$2.5M transaction fees.","Interest: 1-month SOFR + 7% (5% floor); 48-month interest-only period; matures Nov 8, 2028.","Warrants issued to Perceptive: 1.25M shares at $2.43/share; additional 0.25M upon delayed draw.","Financial covenants: minimum trailing 12-month Advanced Energy revenue targets (2024: $41.6M, 2025: $57.0M); $3M min cash."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-040084","json":"https://secwatch.observer/filing/0001493152-23-040084.json","markdown":"https://secwatch.observer/filing/0001493152-23-040084.md","text":"https://secwatch.observer/filing/0001493152-23-040084.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/719135/000149315223040084/0001493152-23-040084-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/719135/000149315223040084/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T08:07:37.318217+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":"283df2609f6edf4c4d1db1df84bd75a6f80dfcac","claim":"Apyx Medical Corp incurred term loan of $37.5 million with Perceptive Credit Holdings IV, LP at floating rate based on one-month SOFR, subject to a floor of 5.0%, plus 7.0% maturing November 8, 2028.","evidence_excerpt":"holly-owned subsidiaries (as subsidiary guarantors), and Perceptive Credit Holdings IV, LP (“Perceptive”) (as initial lender and administrative agent).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/719135/000149315223040084/0001493152-23-040084-index.htm","confidence":0.99,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$37.5 million"},{"label":"Counterparty","value":"Perceptive Credit Holdings IV, LP"},{"label":"Rate","value":"floating rate based on one-month SOFR, subject to a floor of 5.0%, plus 7.0%"},{"label":"Maturity","value":"November 8, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"1eb753214181798ad49a22d57f300b5a0fc60937","claim":"Apyx Medical Corp entered into Credit and Guaranty Agreement with Perceptive Credit Holdings IV, LP valued at up to $45 million (effective 2023-11-08).","evidence_excerpt":"On November 8, 2023, Apyx Medical Corporation (the “Company”) entered into a Credit and Guaranty Agreement (the “Perceptive Credit Agreement”), by and among the Company (as borrower), Apyx China Holding Corp. and Apyx Bulgaria EOOD, the Company’s wholly-owned subsidiaries (as subsidiary guarantors), and Perceptive Credit Holdings IV, LP (“Perceptive”) (as initial lender and administrative agent).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/719135/000149315223040084/0001493152-23-040084-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Perceptive Credit Holdings IV, LP"},{"label":"Value","value":"up to $45 million"},{"label":"Effective","value":"2023-11-08"}],"fact_type":"material_agreement"},{"claim_id":"c0e85dc2ca24e4e1c67d551ae47f7cbe680153ff","claim":"Apyx Medical Corp terminated Credit, Security and Guaranty Agreement with MidCap Funding IV Trust and MidCap Financial Trust (effective 2023-11-08).","evidence_excerpt":"In connection with the Company’s execution of the Perceptive Credit Agreement, the Company (i) repaid all outstanding obligations under its prior Credit, Security and Guaranty Agreement, with MidCap Funding IV Trust and MidCap Financial Trust (the “MidCap Credit Agreement”) and (ii) terminated the MidCap Credit Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/719135/000149315223040084/0001493152-23-040084-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"MidCap Funding IV Trust and MidCap Financial Trust"},{"label":"Effective","value":"2023-11-08"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}