Company: SNWV
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050280
Chunk: 49

Company: SANUWAVE Health, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 all associated liens and security interests.The full repayment of the Existing Debt was accounted for as a debt extinguishment under ASC 470-50. The Company recognized a $0.5 million loss on extinguishment of debt, which includes the write-off of unamortized debt issuance costs and debt discounts.Debt Covenants and Restrictions - The JPM Credit Agreement contains customary covenants, including requirements to maintain certain financial ratios and restrictions on additional indebtedness, asset sales, and dividend payments.As of September 30, 2025, the Company was in compliance with all covenants under the JPM Credit Agreement.Collateral and Security - The Company’s obligations under the JPM Credit Agreement are secured by a first-priority lien on substantially all of the Company’s tangible and intangible assets, including the Company’s equity interests in subsidiaries.Maturity Analysis - Future principal payments on the term loan and revolver are due as follows:(in thousands)Principal Payments2025$1,438 20265,750 2027 (includes the revolver)6,405 20285,750 20294,312 Total Principal Payments23,655 Debt Issuance Costs(371)Total23,284 Less current maturities(5,750)Long term debt, net of current maturities$17,534 Prior to full repayment, the debt issuance costs and debt discount related to the Senior Secured Note were capitalized as a reduction in the principal amount and were amortized to interest expense over the life of the Senior Secured Note. Three Months EndedNine Months Ended(In millions)September 30, 2025September 30, 2024September 30, 2025September 30, 2024Amortization of debt issuance costs and debt discount, included in interest expense$0.5 $0.5 $1.6 $1.4 Interest expense$1.8 $2.1 $5.5 $6.1 

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8.        Accrued Expenses

Accrued expenses consisted of the following:(in thousands)September 30, 2025December 31, 2024Registration penalties$1,583 $1,583 Board of directors fees172 249 Employee compensation1,042 2,232 Other789 614 Accrued expenses$3,586 $4,678 

9.        Fair Value Measurements

The Company