Cutera Inc.
04/04/2024 | Press release | Distributed by Public on 04/04/2024 14:05
Termination of Material Agreement - Form 8-K
Item 1.02. Termination of a Material Definitive Agreement.
On April 3, 2024, Cutera, Inc. (the "Company") and First-Citizens Bank & Trust Company (as successor to Silicon Valley Bank) agreed to terminate the Loan and Security Agreement dated July 9, 2020 between the Company and Silicon Valley Bank (the "Loan and Security Agreement"). The Loan and Security Agreement provided for a four-year secured revolving loan facility in an aggregate principal amount of up to $30.0 million (the "Revolving Line of Credit"). The Revolving Line of Credit was scheduled to mature on July 9, 2024. The Company had never drawn on the Revolving Line of Credit.