8-K - KORU Medical Systems, Inc. | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

KORU Medical Systems entered Amendment No. 3 to its Loan and Security Agreement with HSBC Ventures USA Inc., extending maturities and easing terms on its $5M revolver and $5M term loan facilities.

Key Takeaways

1Amendment executed March 30, 2026, to existing Loan and Security Agreement dated March 8, 2024.

2Revolver maturity extended from December 31, 2026 to March 30, 2028.

3Term Loan interest-only period extended from September 30, 2026 to June 30, 2027, with possible extension to December 31, 2027 on EBITDA milestones.

4Term Loan maturity extended from December 1, 2028 to December 1, 2029.

5Interest rate floor lowered to 5.50% from 6.50% for both facilities.

6Removed adjusted quick ratio covenant; replaced with remaining months liquidity covenant of at least 12 months, with Adjusted EBITDA positive exception.

Current Report Details

Event Type

Material Agreement

Financing

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. **ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.** (d) Exhibits . | Exhibit No. | | Description | |---|---|---| | | | | | 10.1+ | | Amendment No. 3 to Loan and

Material Agreement

Source Document

2.03

CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.** On March 30, 2026, KORU Medical Systems, In

Financing

$5.0M$5.0M$5.0M$5.0M

Transaction Details

Material Agreement

Parties: KORU Medical Systems, Inc., HSBC Ventures USA Inc.

•Extends Revolver maturity to March 30, 2028
•Extends Term Loan interest-only period to June 30, 2027 (possible to Dec 31, 2027 on EBITDA milestone)
•Extends Term Loan maturity to Dec 1, 2029
•Lowers interest rate floor to 5.50%
•Removes adjusted quick ratio covenant
•Replaces with remaining months liquidity covenant >=12 months (waived if trailing 3-month avg Adjusted EBITDA positive)

Debt / Financing

Instrument: Revolving credit facility and term loan
Principal: $5,000,000 Revolver; $5,000,000 Term Loan
Rate: Greater of Prime Rate (Revolver) or Prime minus 0.50% (Term Loan), floor 5.50%
Maturity: Revolver: March 30, 2028; Term Loan: December 1, 2029

Exhibits (2)

AMENDMENT NO. 3 TO LOAN & SECURITY AGREEMENT 03-30-2026 - HSBC VENTURES USA INC.

8-K

FORM 8-K CURRENT REPORT FOR 03-30-2026