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Venus Concept Inc. (NASDAQ:VERO), a medical device company with a market capitalization of $3.46 million and a concerning InvestingPro Financial Health Score of 1.7 (rated as WEAK), has entered into multiple agreements to amend existing loan arrangements, according to a recent SEC filing. On May 30, 2025, the medical device company and its subsidiaries reached a Consent Agreement with Madryn Health Partners, LP, and Madryn Health Partners (Cayman Master), LP. This agreement provides relief under the Main Street Priority Loan Agreement, waiving certain minimum liquidity requirements until June 30, 2025. With total debt of $38.58 and a current ratio of 1.28, the company’s liquidity position remains challenging. Additionally, Venus USA, a subsidiary, is allowed to apply its June 8, 2025, cash interest payment towards the outstanding principal balance.
In a separate move, Venus Concept entered into the Fifteenth Bridge Loan Amendment with the same lenders. This amendment extends the maturity date of an existing Bridge Loan from May 31, 2025, to June 30, 2025. The Bridge Loan, originally agreed upon on April 23, 2024, involves Venus USA as the borrower, with Venus Concept, Venus Canada, and Venus Israel as guarantors.
Furthermore, a Notes Consent Agreement was also finalized on May 30, 2025. This agreement pertains to secured subordinated convertible notes issued by Venus Concept in favor of the lenders on March 31, 2025. The agreement waives certain minimum liquidity requirements under these notes through June 30, 2025.
These strategic financial adjustments aim to bolster the company’s liquidity position, particularly crucial given its negative EBITDA of -$25.09 million and annual revenue of $61 million. All agreements are detailed in the company’s 8-K filing with the U.S. Securities and Exchange Commission. Track Venus Concept’s financial health metrics and get comprehensive analysis with a InvestingPro subscription, which includes detailed financial health scores and real-time alerts on company developments.
In other recent news, Venus Concept Inc. reported a challenging first quarter of 2025 with a 22% decline in total revenue, amounting to $13.6 million, and a net loss of $12.4 million. The company did not provide full-year guidance but anticipates sequential revenue growth in the next quarter. Venus Concept has secured an additional $2 million in financing from Madryn Health Partners, as part of a bridge financing arrangement totaling up to $23.2 million, to support its working capital. The company is also planning to launch a new body contouring device in the second half of 2025, aiming to bolster its market presence. Despite the tough market conditions, Venus Concept is focused on strategic initiatives, including cash system sales, to enhance long-term profitability. Additionally, the company recently converted $11 million of debt to equity and conducted a registered direct offering for $2.7 million. These financial moves highlight Venus Concept’s efforts to navigate the current economic pressures and maintain a competitive edge.
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