Company: SNWV
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050280
Chunk: 82

Company: SANUWAVE Health, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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, 2 or 3 during the three and nine months ended September 30, 2025, and 2024. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to both observable and unobservable inputs.Warrant LiabilityThe Company's liability classified warrants as of September 30, 2025, and December 31, 2024, were valued using the Black Scholes valuation model.Significant Black Scholes valuation model inputs related to the Company’s warrants are listed below:September 30, 2025December 31, 2024Weighted average expected life in years0.230.85Weighted average volatility60%91%Value of underlying shares$37.48$22.76Weighted average risk free interest rate3.96%4.10%Expected dividend yield0%0%

16

A summary of the Level 3 warrant activity for the three and nine months ended September 30, 2025, is as follows:(in thousands, except per share data)WarrantsOutstandingFair Valueper ShareWarrant LiabilityFair ValueBalance at June 30, 2025390$30.82 $12,018 Expired(222)Change in fair value(6,097)Balance at September 30, 2025168$35.24 $5,921 (in thousands, except per share data)WarrantsOutstanding Fair Valueper ShareWarrant LiabilityFair ValueBalance at December 31, 2024390$20.79 $8,107 Expired(222)Change in fair value(2,186)Balance at September 30, 2025168$35.24 $5,921 

10.        Promissory Notes Payable

Convertible Notes Payable and Convertible Notes Payable, Related Parties - In August 2022, November 2022, May 2023, December 2023, January 2024, and June 2024, the Company entered into Securities Purchase Agreements (the “Purchase Agreements”) for the sale in a private placement of (i) Future Advance Convertible Promissory Notes (the “Notes”) in an aggregate principal amount of $16.2 million in August 2022, $4.0 million in November 2022, $1.2