Venus Concept Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
$VERO
Medical/Dental Instruments
Health Care
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 28, 2025
(Exact name of registrant as specified in its charter)
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(Commission File Number)
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(Address of principal executive offices, including Zip Code)
Registrant’s telephone number, including area code: (877 ) 848-8430
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
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Emerging growth company ☐
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| Item 1.01. |
Entry into a Material Definitive Agreement.
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MSLP Consent Agreement
On October 31, 2025, Venus Concept Inc. (the “Company”), Venus Concept USA, Inc., a wholly-owned subsidiary of the Company (“Venus USA”
or “Borrower”), Venus Concept Canada Corp., a wholly-owned Canadian subsidiary of the Company (“Venus Canada”), and Venus Concept Ltd., a wholly-owned Israeli subsidiary of the Company (“Venus Israel” and together with the Company, Venus USA and
Venus Canada, the “Loan Parties”), entered into a Consent Agreement with Madryn Health Partners, LP (“Madryn”) and Madryn Health Partners (Cayman Master), LP (“Madryn Cayman,” and together with Madryn, the “Lenders” or the “Holders”) (the “Consent
Agreement”).
The Consent Agreement granted relief under the Loan and Security Agreement (Main Street Priority Loan), dated December 8, 2020, among the Lenders, as lenders, and
Venus USA, as borrower (the “MSLP Loan Agreement”), such that (i) certain minimum liquidity requirements under the MSLP Loan Agreement are waived through November 30, 2025, and (ii) Venus USA is permitted to apply the November 8, 2025 cash interest
payment due under each Note (as defined in the Consent Agreement) to the respective outstanding principal balance of each Note.
The foregoing description of the Consent Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Consent
Agreement, a copy of which is filed hereto as Exhibit 10.1.
Twenty First Bridge Loan Amendment
On October 31, 2025, the Loan Parties entered into a Twenty First Bridge Loan Amendment Agreement with the Lenders (the “Twenty
First Bridge Loan Amendment”). The Twenty First Bridge Loan Amendment amended that certain Loan and Security Agreement, dated April 23, 2024, among Venus USA, as
borrower, the Company, Venus Canada and Venus Israel, as guarantors, and the Lenders, as lenders (as amended from time to time, the “Bridge Loan”), such that (i) the maturity date of the Bridge Loan is extended from October 31, 2025 to November 30,
2025, and (ii) certain minimum liquidity requirements under Loan and Security Agreement are waived through November 30, 2025.
The foregoing description of the Twenty First Bridge Loan Amendment does not purport to be complete and is qualified in its
entirety by reference to the full text of the Twenty First Bridge Loan Amendment, a copy of which is filed hereto as Exhibit 10.2.
Thirteenth Delayed Drawdown
As previously disclosed, on April 23, 2024, the Company, Venus USA, Venus Canada, and Venus Israel, entered into a Loan and Security Agreement, with the Lenders and
Madryn, as administrative agent. Pursuant to the Loan and Security Agreement (as amended), the Lenders agreed to provide the Borrower with bridge financing (the “Bridge Financing”) in the form of a term loan in one or more draws in an aggregate
principal amount of up to $5,000,000 which amount was subsequently increased to $28,237,906.85. Borrowings under the Bridge Financing will bear interest at a rate per annum equal to 12%.
On the maturity date of the Bridge Financing, the Loan Parties are obligated to make a payment equal to all unpaid principal and accrued interest. The Loan and
Security Agreement also provides that all present and future indebtedness and the obligations of the Borrower to Madryn shall be secured by a priority security interest in all real and personal property collateral of the Loan Parties.
The initial drawdown under the Loan and Security Agreement occurred on April 23, 2024, when the Lenders agreed to provide the Borrower with bridge
financing in the form of a term loan in the principal amount of $2,237,906.85.
The second drawdown under the Loan and Security Agreement occurred on July 26, 2024, when the Lenders agreed to provide the Borrower with a subsequent drawdown under
the Loan and Security Agreement in the principal amount of $1,000,000.
The third drawdown under the Loan and Security Agreement occurred on September 11, 2024, when the Lenders agreed to provide the Borrower with a subsequent drawdown
under the Loan and Security Agreement in the principal amount of $1,000,000.
The fourth drawdown under the Loan and Security Agreement occurred on November 1, 2024, when the Lenders agreed to provide the Borrower with a subsequent drawdown
under the Loan and Security Agreement in the principal amount of $1,000,000.
The fifth drawdown under the Loan and Security Agreement occurred on November 26, 2024, when the Lenders agreed to provide the Borrower with a subsequent drawdown
under the Loan and Security Agreement in the principal amount of $1,200,000.
The sixth drawdown under the Loan and Security Agreement occurred on December 9, 2024, when the Lenders agreed to provide the Borrower with a subsequent drawdown under
the Loan and Security Agreement in the principal amount of $1,500,000.
The seventh drawdown under the Loan and Security Agreement occurred on January 27, 2025, when the Lenders agreed to provide the Borrower with a subsequent drawdown
under the Loan and Security Agreement in the principal amount of $3,000,000.
The eighth drawdown under the Loan and Security Agreement occurred on February 21, 2025, when the Lenders agreed to provide the Borrower with a
subsequent drawdown under the Loan and Security Agreement in the principal amount of $2,300,000.
The ninth drawdown under the Loan and Security Agreement occurred on April 4, 2025, when the Lenders agreed to provide the Borrower with a subsequent drawdown under
the Loan and Security Agreement in the principal amount of $2,000,000.
The tenth drawdown under the Loan and Security Agreement occurred on May 22, 2025, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the
Loan and Security Agreement in the principal amount of $2,000,000.
The eleventh drawdown under the Loan and Security Agreement occurred on July 21, 2025, when the Lenders agreed to provide the Borrower with a
subsequent drawdown under the Loan and Security Agreement in the principal amount of $2,000,000.
The twelfth drawdown under the Loan and Security Agreement occurred on August 21, 2025, when the Lenders agreed to provide the Borrower with a subsequent drawdown
under the Loan and Security Agreement in the principal amount of $2,000,000.
The thirteenth drawdown under the Loan and Security Agreement occurred on September 19, 2025, when the Lenders agreed to provide the Borrower with a subsequent
drawdown under the Loan and Security Agreement in the principal amount of $2,000,000.
On October 28, 2025, the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $2,000,000
(the “Thirteenth Delayed Drawdown”). The Thirteenth Delayed Drawdown was funded on October 28, 2025. The Company expects to use the proceeds of the Thirteenth Delayed Drawdown, after payment of transaction expenses, for general working capital
purposes.
For additional information regarding the Bridge Financing, please see the Current Report on Form 8-K, including the exhibits thereto, filed by the
Company with the Securities and Exchange Commission on April 24, 2024.
| Item 9.01. |
Financial Statements and Exhibits.
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Exhibit
No.
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Description
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Consent Agreement, dated October 31, 2025, by and among Venus Concept Inc., Venus Concept Canada Corp., Venus Concept USA Inc., Venus Concept Ltd., Madryn Health Partners, LP and Madryn
Health Partners (Cayman Master), LP
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Twenty First Amendment to Bridge Loan Agreement, dated October 31, 2025, by and among Venus Concept USA, Inc., Venus Concept Inc., Venus Concept Canada Corp., Venus Concept Ltd., Madryn
Health Partners, LP and Madryn Health Partners (Cayman Master), LP
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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VENUS CONCEPT INC.
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Date: October 31, 2025
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By:
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/s/ Domenic Della Penna
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Domenic Della Penna
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Chief Financial Officer
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