Loan & DebtApr 4, 2026, 07:43 AM
KORU Medical Systems Amends Loan Agreement with HSBC, Extends Maturity Dates and Introduces EBITDA Milestone
AI Summary
KORU Medical Systems amended its loan and security agreement with HSBC Ventures USA Inc., extending the Revolving Line Maturity Date to March 30, 2028, and the Term Loan Maturity Date to December 1, 2029. The amendment also introduces an EBITDA Milestone Event, which, if achieved by June 30, 2027, will extend the Draw Period End Date and Term Loan Amortization Date, providing KORU with more financial flexibility.
Key Highlights
- Revolving Line Maturity Date extended to March 30, 2028.
- Term Loan Maturity Date extended to December 1, 2029.
- EBITDA Milestone Event introduced, potentially extending Draw Period End Date and Term Loan Amortization Date if Adjusted EBITDA exceeds $0.00 for two consecutive fiscal quarters by June 30, 2027.
- New definitions added, including 'Adjusted EBITDA' and 'Eligible Foreign Accounts', impacting financial calculations and borrowing base.
Price Impact
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