---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-020562"
form_type: "8-K"
ticker: "PRCT"
cik: "0001588978"
company_name: "PROCEPT BioRobotics Corp"
filed_at: "2023-06-02T23:59:59+00:00"
generated_at: "2026-06-14T08:15:05.746671+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# PROCEPT BioRobotics reduces required CIBC deposit to $90M, frees excess cash

## Summary
- Loan amendment lowers minimum cash at CIBC to lesser of $90M or all non-operating cash.
- Company may now keep cash and equivalents above that threshold at other financial institutions.
- Existing covenants and terms of Loan Agreement remain unchanged except for the deposit requirement.

## SEC filing metadata
- accession: 0001628280-23-020562
- form_type: 8-K
- ticker: PRCT
- cik: 0001588978
- company_name: PROCEPT BioRobotics Corp
- filed_at: 2023-06-02T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1588978/000162828023020562/0001628280-23-020562-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1588978/000162828023020562/prct-20230601.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-020562
- JSON: https://secwatch.observer/filing/0001628280-23-020562.json
- Plain text: https://secwatch.observer/filing/0001628280-23-020562.txt

## Key facts
- Material Agreements
  PROCEPT BioRobotics Corp amended First Amendment with Canadian Imperial Bank of Commerce (effective 2023-06-01).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Canadian Imperial Bank of Commerce
  - Effective: 2023-06-01
  source text: On June 1, 2023, PROCEPT BioRobotics Corporation (the “Company”) entered into a First Amendment (the “Amendment”) to the Loan and Security Agreement, dated as of October 6, 2022, by and between the Company and Canadian Imperial Bank of Commerce (the “Existing Loan Agreement” and including the Amendment, the “Loan Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1588978/000162828023020562/0001628280-23-020562-index.htm

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