Sanuwave Health, Inc. has entered into an amendment to its credit agreement with lenders, led by JPMorgan Chase Bank, N.A., effective October 28, 2026. The amendment provides a waiver for the company's failure to meet its fixed charge coverage ratio covenant and introduces more restrictive financial covenants.
Key Details
- Covenant Waiver: Lenders waived a default arising from the company's fixed charge coverage ratio for the twelve-month period ending September 30, 2026, falling below the required level.
- New Restrictions: The company now requires prior written lender consent for any permitted acquisitions and for using restricted payments to repurchase equity. The cap on both permitted other secured indebtedness and subsidiary investments was lowered from $500,000 to $250,000.
- Associated Costs: Sanuwave agreed to pay a $5,000 amendment fee in connection with the agreement.