Exhibit 10.30

 

CERTAIN MATERIAL (INDICATED BY ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT
PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED MATERIAL HAS BEEN
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

 

Execution Version

 

FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT

 

THIS FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT (this•” Agreement") is
entered into as of June 29, 2018, among Restoration Robotics, Inc., a Delaware
corporation (the “Borrower"), Solar Capital Ltd., a Maryland corporation (in its
capacity as collateral agent, the "Collateral Agent") and the Lenders party
hereto, comprising the Required Lenders under the Loan Agreement referred to
below (each, a "Lender" and , collective l y, the "Lenders").

 

RECITALS

 

A.The Borrower, the Lenders party thereto, and the Collateral Agent, are parties
to that certain Loan and Security Agreement, dated as of May 10, 2018 (as
amended, supplemented or otherwise modified prior to the date hereof, the "Loan
Agreement").

 

B.The Borrower, the Lenders and the Collateral Agent wish to correct a
mathematical error in the Revenue Projections, subject to the term s and
conditions hereof.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and
valuable consideration, the receipt and adequacy of which are hereby
acknowledged, and intending to be legally bound, the parties hereto agree as
follows:

 

I.Definitions. Capitalized terms used but not defined in this Agreement shall
have the meanings given to them in the Loan Agreement.

 

2.Amendment to the Loan and Security Agreement. Exhibit G to the Loan Agreement
shall be replaced in its entirety with Exhibit t A hereto.

 

3.Integration. This Agreement and the other Loan Documents represent the entire
agreement relating to the subject matter of this Agreement and supersede all
prior negotiations and agreements with respect to the substance of this
Agreement. All prior agreements, understandings, representations, warranties,
and negotiations between the parties about the subject matter of this Agreement
and the Loan Document s merge into this Agreement and the Loan Documents

 

4.Counterparts. This Agreement ma y be executed in an y number of counterparts
and all of such counterpart s taken together shall be deemed to constitute one
and the same instrument.

 

5.Miscellaneous.

 

5.1Except as expressly amended pursuant hereto, the Loan Agreement and the other
Loan Documents shall remain unchanged and in full force and effect and are
hereby ratified and confirmed in all respects.

 

5.2This Agreement shall constitute a Loan Document under the Loan Agreement.

 

5.3Each provision of this Agreement is severable from every other provision in
determining the enforceability of any provision.

 

5.4This Agreement is effective for the purposes set forth herein and shall be
limited precisely as written and shall not be deemed to (a) be a consent to any
Agreement waiver or modification

of any term or condition of any Loan Document, or (b) otherwise prejudice any
right or remedy which the Collateral Agent or any Lender may now have or may
have in the future under or in connection with any

--------------------------------------------------------------------------------

Exhibit 10.30

Loan Document.

 

5.5This Agreement and all document s related hereto shall constitute Loan
Documents, shall be construed in connection with and as part of the Loan
Documents.

 

6.Governing Law. THIS AGREEMENT AND THE RIGHT S AND OBLIGATIONS OF THE PARTIES
HERETO SHALL IN ALL RESPECTS BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH,
THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICT OF
LAWS PRINCIPLES OF SUCH STATE (OTHER THAN SECTION 5-1401 OF THE GENERAL
OBLIGATIONS LAW)), INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND
PERFORMANCE, REGARDLESS OF THE LOCATION OF THE COLLATERAL, PROVIDED, HOWEVER,
THAT IF THE LAWS OF ANY JURISDICTION OTHER THAN NEW YORK SHALL GOVERN IN REGARD
TO THE VALIDITY, PERFECTION OR EFFECT OF PERFECTION OF ANY LIEN OR IN REGARD TO
PROCEDURAL MATTERS AFFECTING ENFORCEMENT OF ANY LIENS IN COLLATERAL, SUCH LAWS
OF SUCH OTHER JURISDICTIONS SHALL CONTINUE TO APPLY TO THAT EXTENT. This
Agreement is subject to the provisions of Sect ion 11 of the Loan Agreement
relating to jurisdiction, venue, jury trial waiver and judicial reference, which
provisions are by this reference incorporated herein, mutatis mutandis, as if
set forth herein in full.

 

[Signature page follows.]

 

 

 

2

--------------------------------------------------------------------------------

Exhibit 10.30

 

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement, as of
the date first above written.

 

 

 

THE BORROWER

 

RESTORATION ROBOTICS, INC.

 

 

 

 

By:

/s/ Mark Hair

 

Name:

Mark Hair

 

Title:

Chief Financial Officer

 

 

 

 

 

COLLATERAL AGENT AND LENDER:

 

SOLAR CAPITAL LTD.

 

 

By

/s/ Anthony J. Storino

 

Name:

Anthony Storino

 

Title:

Authorized Signatory

 

 

 

 

 

LENDER:

 

WESTERN ALLIANCE BANK

 

 

 

 

By:

/s/ Bill Wickline

 

Name:

Bill Wickline

 

Title:

Director of Portfolio Management

 

 

 

 

 

 

 

 

[Signature Page to Restoration Robotics First Amendment to LSA]

 

 

--------------------------------------------------------------------------------

Exhibit 10.30

EXHIBIT A

Revenue Projections

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4

--------------------------------------------------------------------------------

Exhibit 10.30

 

 

 

 

 

[REDACTED]

Restoration Robotics - Minimum Revenue Calculation

 

Month Ending

Management Case

Covenant (%)

Minimum Rev. Required

 

May-18

[***]

[***]

[***]

= Revised

Jun -18

[***]

[***]

[***]

 

Jul-18

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[***]

[***]

 

Aug -18

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[***]

[***]

 

Sep-18

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Oct-18

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Nov-18

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Dec-18

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Jan-19

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Feb-19

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Mar-19

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Apr-19

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Ma y-19

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J un-19

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Jul-19

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Aug-19

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Sep-19

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Oct-19

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No v-19

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Dec-19

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Jan-20

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Feb-20

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Mar-20

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Apr-20

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May-20

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Jun-20

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Jul-20

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Aug -20

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Sep-20

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Oct-20

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Nov-20

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Dec -20

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Jan-21

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Feb-21

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Mar-21

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Apr-21

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May-21

[***]

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Jun-21

[***]

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J ul-21

[***]

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Aug -21

[***]

[***]

[***]

 

Se p-21

[***]

[***]

[***]

 

Oct-21

[***]

[***]

[***]

 

Nov-21

[***]

[***]

[***]

 

Dec-21

[***]

[***]

[***]

 

J an-22

[***]

[***]

[***]

 

Feb-22

[***]

[***]

[***]

 

Mar-22

[***]

[***]

[***]

 

Apr-22

[***]

[***]

[***]

 

 

[***] Certain information in this document has been omitted and filed separately
with the Securities and Exchange Commission.  Confidential treatment has been
requested with respect to the omitted portions.