Company: SNWV
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050280
Chunk: 79

Company: SANUWAVE Health, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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, the Company recognized lease expense of $37 thousand and $86 thousand, respectively, related to this operating lease, which is included in general and administrative expenses in the condensed consolidated statements of comprehensive income (loss).

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As of September 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$99 2026270 2027272 2028282 2029292 Thereafter199 Total Lease Payments1,414 Imputed interest(326)Present value of lease liabilities$1,088 The weighted-average useful life of operating leases at September 30, 2025, is 4.75 years.The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

7.        Long Term Debt, Revolving Credit Facility and Senior Secured Debt

The following table summarizes outstanding debt at September 30, 2025 and December 31, 2024:September 30, 2025December 31, 2024(in thousands)PrincipalDebt Issuance CostsCarrying ValuePrincipalDebt DiscountCarrying ValueSecured term loan$23,000 $(292)$22,708 $- $- $- Secured revolving credit facility655(79)576 - - - Senior secured debt$- $- $- $26,898 $(1,593)$25,305 Revolving Credit Facility and Senior Secured Debt - On September 25, 2025, the Company entered into a new credit agreement (the “JPM Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, and a syndicate of lenders. The JPM Credit Agreement provides for a $23.0 million secured term loan (the “Term Loan”) with term payments through September 25, 2029, and a $5.0 million secured revolving credit facility (the “Revolver”) maturing September 25, 2027. Loans under the JPM Credit Agreement accrue interest at a rate per annum equal to, at the Company’s option, either a term rate based on the secured overnight financing rate (“SOFR”) plus a margin of 3.50%, or the CB Floating Rate (“CBFR”) plus a margin of 2.50%.