KORU Medical Systems Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On March 31, 2025, KORU Medical Systems, Inc. (the “Company”) entered into an amendment (the “Amendment”) to its loan and security agreement, by and between the Company and HSBC Ventures USA Inc., as lender, dated March 8, 2024 (the “Loan and Security Agreement”). The Company has not drawn on the credit facility under the Loan and Security Agreement, and there is no obligation for the Company to do so at any time.
The Amendment extends the maturity of the $5,000,000 revolving credit facility to December 31, 2026, and extends the interest-only portion of the $5,000,000 term loan facility to October 1, 2026. The Amendment also changes the Adjusted Quick Ratio from not less than 1.50 to 1.00, to not less than 1.25 to 1.00.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment attached as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated by reference into this Item 1.01.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
Exhibits.
| Exhibit No. | Description | |
| 10.1+ | Amendment No. 1 to Loan and Security Agreement dated as of March 31, 2025 by and between KORU Medical Systems, Inc. and HSBC Ventures USA Inc. | |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL document) |
+ Schedules and exhibits have been omitted pursuant to Item 601(b)(10) of Regulation S-K. The Registrant agrees to furnish supplementally a copy of any omitted schedule or exhibit to the U.S. Securities and Exchange Commission upon request.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| KORU Medical Systems, Inc. (Registrant) | ||
| Date: April 4, 2025 | By: | /s/ Linda Tharby |
| Linda Tharby President and Chief Executive Officer | ||
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