Item 1.01. Entry into a Material Definitive Agreement
On
- extend the maturity date of the loan fromJune 30, 2023 toDecember 31, 2025 ; - extend the interest only payment period throughDecember 31, 2023 ; - extend the period by which the Company may elect to pay a portion, or all if no event of default has occurred or is continuing, of the interest in paid in-kind interest payments untilDecember 31, 2023 ; - amend the on-going stand-alone representation and stand-alone event of default regarding "Material Adverse Change" such that any adverse change in or effect upon the revenue of the Company and its subsidiaries due to the outbreak of COVID-19, to the extent disclosed to the Lenders, will not constitute a Material Adverse Change; - change the date under the on-going stand-alone representation regarding no Material Adverse Change toDecember 31, 2020 ; - revise and extend the minimum annual revenue requirements through 2025.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached hereto as Exhibit 10.1, and which is incorporated herein in its entirety by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information included in Item 1.01 of this Current Report on Form 8-K is also incorporated by reference into this Item 2.03 of this Current Report on Form 8-K.
Item 7.01. Regulation FD Disclosure
On
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report and Exhibit 99.1 hereto are being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall such information or that Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits
Exhibit No. Description Amendment No. 5 to Term Loan Agreement, datedJanuary 22, 2021 , made by 10.1 and amongAvinger, Inc. andGRG Partners III L.P. and certain of its affiliated funds, as lenders. 99.1 Press Release, datedJanuary 26, 2021 .
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