Loan & DebtApr 4, 2026, 07:43 AM
KORU Medical Systems Amends Loan Agreement with HSBC, Extends Maturity Dates and Modifies Financial Definitions
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 modifies definitions related to the Draw Period, Term Loan Amortization Date, Adjusted EBITDA, and introduces the concept of Eligible Foreign Accounts, providing the company with more financial flexibility and potentially extending its access to capital.
Key Highlights
- Revolving Line Maturity Date extended to March 30, 2028.
- Term Loan Maturity Date extended to December 1, 2029.
- Introduces 'Adjusted EBITDA' definition and 'EBITDA Milestone Event' which can trigger further extensions.
- Allows for inclusion of up to $750,000 in Eligible Foreign Accounts in the Borrowing Base from Approved Countries.
Price Impact
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