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SEC filingKORU 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.
The amendment provides KORU Medical Systems with extended runway on its undrawn $10 million Credit Facility, deferring revolver maturity by over a year and pushing term loan obligations further out while reducing the interest floor by 1%. Removal of the adjusted quick ratio covenant reduces immediate liquidity pressure, replaced by a forward-looking remaining months liquidity test that offers flexibility if Adjusted EBITDA turns positive over trailing three months. Potential extensions tied to achieving positive Adjusted EBITDA for two consecutive quarters by June 30, 2027 incentivize operational improvements. No draws have occurred, preserving optionality without current obligations. This supports ongoing operations amid transition requirements for account maintenance with HSBC.