secwatch.observer — SEC 8-K summary
======================================

Issuer:     Sanara MedTech Inc. (SMTI)
CIK:        0000714256
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001493152-24-018808
Event type: leadership
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sanara MedTech Q1 revenue record $18.5M; CEO Fleming resigns, Chairman Nixon takes over
--------------------------------------------------------------------------------

- Net revenue $18.5M in Q1 2024, up 19% YoY; tenth consecutive record quarter.
- Net loss $1.8M vs $1.2M loss in prior year; Adjusted EBITDA turned positive at $0.3M.
- CEO Zachary Fleming resigned May 10, 2024; Board appointed Executive Chairman Ron Nixon as new CEO effective immediately.
- Subsequent to quarter end, entered $55M non-dilutive term loan with CRG; received $15M at closing with option for additional $40M.
- Appointed Jake Waldrop as COO and Tyler Palmer as Chief Corporate Development and Strategy Officer.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714256/000149315224018808/0001493152-24-018808-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714256/000149315224018808/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-018808

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer