secwatch.observer — SEC 8-K summary
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Issuer:     Sanara MedTech Inc. (SMTI)
CIK:        0000714256
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001493152-24-015133
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sanara MedTech enters $55M non-dilutive term loan with CRG; repays $9.8M existing debt
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- New $55M term loan with CRG Servicing LLC; $15M drawn at close, up to $40M available in two tranches before June 30, 2025.
- Interest at 13.25% p.a. (8% cash, 5.25% PIK optional); maturity March 30, 2029.
- Proceeds used to retire $9.8M Cadence Bank term loan; remaining for acquisitions, working capital.
- Financial covenants: maintain liquidity >$3M; minimum annual revenue of $60M (2024), $75M (2025), $85M (2026), $95M (2027), $105M (2028+).
- Prepayment premiums: 10% within 1 year, 5% between 1-2 years, none after 2 years; loan secured by substantially all assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714256/000149315224015133/0001493152-24-015133-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714256/000149315224015133/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-015133

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