---
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"
generated_at: "2026-06-08T08:07:37.318217+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Apyx Medical enters up to $45M debt facility with Perceptive, replaces MidCap loan

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-040084
- JSON: https://secwatch.observer/filing/0001493152-23-040084.json
- Plain text: https://secwatch.observer/filing/0001493152-23-040084.txt

## Key facts
- Debt Financings
  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.
  - Instrument: term loan
  - Principal: $37.5 million
  - Counterparty: Perceptive Credit Holdings IV, LP
  - Rate: floating rate based on one-month SOFR, subject to a floor of 5.0%, plus 7.0%
  - Maturity: November 8, 2028
  - Event: incurrence
  source text: holly-owned subsidiaries (as subsidiary guarantors), and Perceptive Credit Holdings IV, LP (“Perceptive”) (as initial lender and administrative agent).
  evidence_url: https://www.sec.gov/Archives/edgar/data/719135/000149315223040084/0001493152-23-040084-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Perceptive Credit Holdings IV, LP
  - Value: up to $45 million
  - Effective: 2023-11-08
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/719135/000149315223040084/0001493152-23-040084-index.htm
- Material Agreements
  Apyx Medical Corp terminated Credit, Security and Guaranty Agreement with MidCap Funding IV Trust and MidCap Financial Trust (effective 2023-11-08).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: MidCap Funding IV Trust and MidCap Financial Trust
  - Effective: 2023-11-08
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/719135/000149315223040084/0001493152-23-040084-index.htm

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