Cutera terminates undrawn $30M credit line with First-Citizens Bank

CUTERA INC

Terminated Loan and Security Agreement dated July 9, 2020 with First-Citizens Bank (successor to Silicon Valley Bank).
Facility was a $30M secured revolving line of credit maturing July 9, 2024.
Company had never drawn on the credit line.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

CUTERA INC terminated Loan and Security Agreement with First-Citizens Bank & Trust Company (as successor to Silicon Valley Bank) valued at Terminated a four-year secured revolving loan facility of up to $30.0 million that was never drawn u (effective 2024-04-03).

Action: termination
Agreement: credit facility
Counterparty: First-Citizens Bank & Trust Company (as successor to Silicon Valley Bank)
Value: Terminated a four-year secured revolving loan facility of up to $30.0 million that was never drawn u
Effective: 2024-04-03

Exact text from the filing

On April 3, 2024, Cutera, Inc. (the “Company”) and First-Citizens Bank & Trust Company (as successor to Silicon Valley Bank) agreed to terminate the Loan and Security Agreement dated July 9, 2020 between the Company and Silicon Valley Bank (the “Loan and Security Agreement”).

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Source: SEC EDGAR

accession 0001628280-24-014873

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