Company: SNWV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038937
Chunk: 45

Company: SANUWAVE Health, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 45
---
 expense of $37 thousand and $49 thousand, respectively, related to this operating lease, which is included in general and administrative expenses in the condensed consolidated statements of comprehensive income (loss).As of June 30, 2025, the maturities of the Company’s operating leases, which have initial or remaining lease terms more than one year, consist of the following:(in thousands)Operating Leases2025$(13)2026345 2027328 2028282 2029292 Thereafter199 Total Lease Payments1,433 Imputed interest(377)Present value of lease liabilities$1,056 The weighted-average useful life of operating leases at June 30, 2025, is 4.65 years.The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

8.        Senior Secured Debt

The following table summarizes outstanding senior secured debt:June 30, 2025December 31, 2024(in thousands)PrincipalDebt Discount Carrying ValuePrincipalDebt Discount Carrying ValueSenior secured debt$27,305 $(531)$26,774 $26,898 $(1,593)$25,305 Senior secured promissory note payable (“Senior Secured Note”) –In August 2020, the Company entered into a Note and Warrant Purchase and Security Agreement (the “NWPSA”). In accordance with the NWPSA, the Company issued a $15 million Senior Secured Promissory Note Payable (the “Senior Secured Note”) and a warrant exercisable for shares of the Company’s common stock in exchange for cash to support operations, repay outstanding debt and close on the acquisition of the UltraMIST assets from Celularity Inc. (Celularity) among other transactions.In February 2022, the Company entered into a Second Amendment to Note and Warrant Purchase and Security Agreement (the “Second NWPSA”) for $3.0 million, for a total of $18.0 million outstanding. Along with the issuance of the note, the 

14

Company also issued warrants to purchase 43,200 shares of common stock with an exercise price of $67.50 and 54,933 shares of common stock.Interest is charged at the greater of the prime rate or 3% plus 9%, paid quarterly. The principal increases at a rate of 3% of the outstanding principal balance (PIK interest) on each quarterly interest payment