Company: SNWV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023881
Chunk: 32

Company: SANUWAVE Health, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 classified net with long-term lease liabilities on the condensed consolidated balance sheet and will be amortized as a reduction to lease expense over the remaining lease term.Estimated future reimbursement payments and timing used in recording the new office lease are as follows:DateReimbursement payment(in thousands)5/15/2025$228 6/15/20252287/15/2025130Total$586 Lease expense - For the three months ended March 31, 2025, the Company recognized lease expense of $21 thousand related to this operating lease, which is included in general and administrative expenses in the condensed consolidated statements of comprehensive loss.As of March 31, 2025, the maturities of the Company’s operating leases, which have initial or remaining lease terms more than one year, consist of the following:(in thousands)Operating Leases2025$(399)2026345 2027328 2028282 2029292 Thereafter199 Total Lease Payments1,047 Imputed interest(401)Present value of lease liabilities$646 The weighted-average useful life of operating leases at March 31, 2025, is 4.3 years.The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

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8.        Senior Secured Debt

The following table summarizes outstanding senior secured debt:March 31, 2025December 31, 2024(in thousands)PrincipalDebt Discount Carrying ValuePrincipalDebt Discount Carrying ValueSenior secured debt$27,100 $(1,063)$26,037 $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