Sonendo, Inc. to Amend its Amended and Restated Credit Agreement and Guaranty with Perceptive Credit Holdings, LP
March 04, 2024 at 09:05 pm
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Sonendo, Inc. announced that it has reached an agreement with Perceptive Credit Holdings, LP to amend its Amended and Restated Credit Agreement and Guaranty, dated as of August 23, 2021, as amended (?Perceptive Loan"). The amendment to the Perceptive Loan includes a one-time $15.0 million principal repayment and initiates monthly principal repayments beginning in March 2024 along with modifications to certain other terms including revenue covenants.
Sonendo, Inc. is a commercial-stage medical technology company focused on saving teeth from tooth decay. The Company develops and manufactures the GentleWave System, a technology platform designed to treat tooth decay by cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure. The system utilizes a mechanism of action, which combines procedure fluid optimization, broad-spectrum acoustic energy, and advanced fluid dynamics, to debride and disinfect deep regions of the complex root canal system in a less invasive procedure that preserves tooth structure. Its Product segment includes the sales of the GentleWave System console and related accessories and instruments. The Company also offers ancillary products, such as SoundSeal and its Sonendo-branded liquid solution of ethylenediaminetetraacetic acid (EDTA). SoundSeal is a material used during the GentleWave Procedure to build and create a sealing platform on the top of the crown.