secwatch.observer — SEC 8-K summary
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Issuer:     Apyx Medical Corp (APYX)
CIK:        0000719135
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0001493152-23-040084
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719135/000149315223040084/0001493152-23-040084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719135/000149315223040084/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-040084

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