# EDGAR Filing Document

**Accession Number:** 0001409269
**File Stem:** 0001140361-25-035717
**Filing Date:** 2025-9
**Character Count:** 22356
**Document Hash:** c8433446e8b178ce562e7f9d376c8717
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-035717.hdr.sgml**: 20250922

**ACCESSION NUMBER**: 0001140361-25-035717

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250916

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250922

**DATE AS OF CHANGE**: 20250922

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Venus Concept Inc.
- **CENTRAL INDEX KEY:** 0001409269
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 061681204
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38238
- **FILM NUMBER:** 251330743

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 235 YORKLAND BLVD.
- **STREET 2:** SUITE 900
- **CITY:** TORONTO
- **PROVINCE COUNTRY:** A6
- **ZIP:** M2J 4Y8
- **BUSINESS PHONE:** (416) 907-0115

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 235 YORKLAND BLVD.
- **STREET 2:** SUITE 900
- **CITY:** TORONTO
- **PROVINCE COUNTRY:** A6
- **ZIP:** M2J 4Y8

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Restoration Robotics, Inc.
- **DATE OF NAME CHANGE:** 20171121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Restoration Robotics Inc
- **DATE OF NAME CHANGE:** 20070808

?xml version='1.0' encoding='ASCII'?

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

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### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): September 16, 2025

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## VENUS CONCEPT INC.

#### (Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware**<br>| **001-38238**<br>| **06-1681204**<br>|
| **(State or other jurisdiction of incorporation)** | **(Commission File Number)** | **(IRS Employer Identification Number)** |

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#### 235 Yorkland Blvd, Suite 900

#### Toronto, Ontario M2J 4Y8

#### (Address of principal executive offices, including Zip Code)

#### Registrant's telephone number, including area code: (877) 848-8430

#### Not Applicable

#### (Former name or former address, if changed since last report)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbol(s)** | **Name of each exchange**<br> **on which registered** |
| **Common Stock, $0.0001 par value per share**<br>| **VERO**<br>| **The Nasdaq Capital Market**<br>|

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 1.01.** | **Entry into a Material Definitive Agreement.** |

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#### Twelfth Delayed Drawdown
As previously disclosed, on April 23, 2024, Venus Concept Inc. (the "Company"), Venus Concept USA, Inc., a wholly-owned subsidiary of the Company ("Venus USA" or "Borrower"), Venus Concept Canada Corp., a wholly-owned Canadian subsidiary of the Company ("Venus Canada"), and Venus Concept Ltd., a wholly-owned Israeli subsidiary of the Company ("Venus Israel" and together with the Company, Venus USA and Venus Canada, the "Loan Parties"), entered into a Loan and Security Agreement (the "Loan and Security Agreement"), with Madryn Health Partners, LP ("Madryn") and Madryn Health Partners (Cayman Master), LP ("Madryn Cayman," and together with Madryn, the "Lenders) and Madryn, as administrative agent. Pursuant to the Loan and Security Agreement (as amended), the Lenders agreed to provide the Borrower with bridge financing (the "Bridge Financing") in the form of a term loan in one or more draws in an aggregate principal amount of up to $5,000,000 which amount was subsequently increased to $23,237,906.85. Borrowings under the Bridge Financing will bear interest at a rate per annum equal to 12%.

On the maturity date of the Bridge Financing, the Loan Parties are obligated to make a payment equal to all unpaid principal and accrued interest. The Loan and Security Agreement also provides that all present and future indebtedness and the obligations of the Borrower to Madryn shall be secured by a priority security interest in all real and personal property collateral of the Loan Parties.

The initial drawdown under the Loan and Security Agreement occurred on April 23, 2024, when the Lenders agreed to provide the Borrower with bridge financing in the form of a term loan in the principal amount of $2,237,906.85.

The second drawdown under the Loan and Security Agreement occurred on July 26, 2024, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $1,000,000.

The third drawdown under the Loan and Security Agreement occurred on September 11, 2024, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $1,000,000.

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The fourth drawdown under the Loan and Security Agreement occurred on November 1, 2024, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $1,000,000.

The fifth drawdown under the Loan and Security Agreement occurred on November 26, 2024, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $1,200,000.

The sixth drawdown under the Loan and Security Agreement occurred on December 9, 2024, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $1,500,000.

The seventh drawdown under the Loan and Security Agreement occurred on January 27, 2025, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $3,000,000.

The eighth drawdown under the Loan and Security Agreement occurred on February 21, 2025, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $2,300,000.

The ninth drawdown under the Loan and Security Agreement occurred on April 4, 2025, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $2,000,000.

The tenth drawdown under the Loan and Security Agreement occurred on May 22, 2025, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $2,000,000.

The eleventh drawdown under the Loan and Security Agreement occurred on July 21, 2025, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $2,000,000.

The twelfth drawdown under the Loan and Security Agreement occurred on August 21, 2025, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $2,000,000.

On September 19, 2025, the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $2,000,000 (the "Twelfth Delayed Drawdown"). The Twelfth Delayed Drawdown was funded on September 19, 2025. The Company expects to use the proceeds of the Twelfth Delayed Drawdown, after payment of transaction expenses, for general working capital purposes.

For additional information regarding the Bridge Financing, please see the Current Report on Form 8-K, including the exhibits thereto, filed by the Company with the Securities and Exchange Commission on April 24, 2024.

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| | |
|:---|:---|
| **Item 5.02.** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers** |

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On September 16, 2025, the board of directors (the "Board") of Venus Concept Inc. (the "Company") approved the award of transaction completion bonuses to Rajiv De Silva and Domenic Della Penna, (each an "Awardee") to be paid in accordance with transaction completion bonus award letters (each an "Award Letter") upon completion of a Strategic Transaction (as defined the Award Letter). The Awardees are each eligible to receive a transaction completion bonus that will be paid in the form of cash and/or cash equivalents in the manner and ratio proscribed by the Strategic Transaction. The bonus amounts for each Awardee are subject to a range calculated based on the size of the Strategic Transaction. Mr. De Silva's transaction completion bonus payment ranges from $715,000 to approximately $2.12 million. Mr. Della Penna's transaction completion bonus payment ranges from $338,000 to approximately $1 million.

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In addition, each bonus payment is contingent upon the satisfaction of certain terms and conditions set forth in the respective Award Letters, including, but not limited to, (a) the successful completion of a Strategic Transaction resulting in a change of control, as determined by the Board, within the time period prescribed in the Award Letters and (b) the Awardee is an active, full-time employee of the Company, in good standing as determined in the reasonable discretion of the Board, on the Payment Date (as defined in the Award Letters).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The foregoing description of the Award Letters does not purport to be complete and is qualified in its entirety by reference to the provisions of the Award Letters, a form of which is filed as Exhibit 10.1 to this Current Report and incorporated herein by reference.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

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(d) Exhibits. The following exhibits are filed with this report.

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| | |
|:---|:---|
| Exhibit No. | **Description** |
| [10.1](ef20055897_ex10-1.htm) | Form of Transaction Completion Bonus Award Letter |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **VENUS CONCEPT INC.** | **VENUS CONCEPT INC.** |
| Date: September 22, 2025 | By: | /s/ Domenic Della Penna |
|  |  | Domenic Della Penna |
|  |  | Chief Financial Officer |

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## Exhibit 10.1

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**Exhibit 10.1**<br>

#### Personal and Confidential

[*Insert date*]

Delivered by email to: [*Insert employee email address*]

[*Insert employee name and address*]

Dear [*Insert first employee name*],

As part of our on-going efforts to maximize shareholder value, we, Venus Concept Inc. ("*Venus*" or the "*Company*") continue to evaluate potential strategic alternatives. As part of the process, Venus' Board of Directors (the "*Board*") is considering a full range of strategic alternatives, which may include one or more financings, mergers, reverse mergers, other business combinations, sales of assets, licensings or other transactions (one or more, defined as a "*Strategic Transaction*").

In connection with this activity, you have been identified as a key employee critical to the success of the Company and to any single transaction or a combination of transactions, and we are pleased to offer you a bonus opportunity (the "*2026 Transaction Completion Bonus*") as set forth below. The amount of your 2026 Transaction Completion Bonus will be a minimum of USD $[*insert amount*] (the "*Minimum Bonus*"). Your 2026 Transaction Completion Bonus will increase as a function of the Gross Proceeds secured in a Strategic Transaction executed by or before the conclusion of fiscal year 2026, as illustrated below, and as determined in the discretion of the Board:

[*Insert table*]

Any 2026 Transaction Completion Bonus paid will be less applicable deductions and withholdings, as required by law.

Provided you sign and return this letter agreement no later than [*insert date*], and except as set forth specifically below, you will be eligible for a 2026 Transaction Completion Bonus if and only if (a) a Strategic Transaction is successfully completed resulting in a Change of Control, as defined by the Board, on or before December 31, 2026, and (b) you are either an active, full-time employee of the Company, in good standing as determined in the reasonable discretion of the Board on the Payment Date (as defined below) or you incur a Qualifying Termination as described below.

In the event that a Strategic Transaction is approved by the Board but does not immediately result in a Change of Control or is not accompanied by a Change of Control transaction, the Board shall retain sole discretion to modify the terms of this letter agreement.

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Payment shall be made in the form of cash and/or cash equivalents, in the medium of payment and ratio proscribed by the Strategic Transaction, or as determined by the Board of Directors.

The 2026 Transaction Completion Bonus will be paid in a single lump sum, or in the medium of payment and ratio prescribed by the Strategic Transaction, within thirty (30) days after the effective date of a Change of Control resulting from a Strategic Transaction, as defined by the Board (the "*Payment Date*").

If your employment with the Company is terminated on or before the Payment Date, you will not be eligible to receive a 2026 Transaction Completion Bonus, in whole or in part. Notwithstanding the foregoing, if your employment is terminated by the Company without Cause, or if you resign your employment with the Company for Good Reason (either, a "*Qualifying Termination*") either (a) within thirty (30) days after the closing of a Strategic Transaction, or (b) less than three (3) months prior to the closing of a Strategic Transaction, and if you otherwise would have received a 2026 Transaction Completion Bonus pursuant to the terms of this letter agreement but for the Qualifying Termination, you will remain eligible to earn a 2026 Transaction Completion Bonus payable in the same time and manner as if there had not been a Qualifying Termination, *provided* you have executed (and not timely revoked or rescinded) a general release of claims in favor of the Company, in a form acceptable to the Company.

For purposes of this letter agreement:

"Cause" shall mean any of the following: (i) your failure to perform your duties and responsibilities to the Company as determined in the good faith discretion of the Company; (ii) any deliberate violation of a Company policy; (iii) your commission of any act of fraud, embezzlement, self-dealing, dishonesty or similar action or omission; (iv) your unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom you owe an obligation of nondisclosure as a result of your relationship with the Company; (v) your breach of any of your obligations under any written agreement with the Company; (vi) your conviction of, or a plea of nolo contendere for, any felony; or (vii) any other willful misconduct that has caused or is reasonably expected to result in material injury to the Company.

"Good Reason" for your resignation means the occurrence of one or more of the following without your express written consent: (a) the relocation of your principal place of employment or service that increases your one-way commute by more than fifty (50) miles (other than reasonable business travel required as part of the duties associated with your position. (Note that a change in location of your personal residence will not constitute "Good Reason under this provision"); (b) a material reduction in job duties, responsibilities and requirements inconsistent with your position with the Company; provided, however that neither a change in the identity, title or role of the person to whom you report, nor a change in duties, responsibilities and requirements that results from the growth of the Company will constitute "Good Reason"; or (c) a material reduction of your total cash compensation; *provided, however*, that in each case above, in order for your resignation to be deemed to have been for Good Reason, you must first give the Company written notice of the action or omission giving rise to "Good Reason" within thirty (30) days after the first occurrence thereof; the Company must fail to reasonably cure such action or omission within thirty (30) days after receipt of such notice (the "Cure Period"), and your resignation must be effective not later than thirty (30) days after the expiration of such Cure Period.

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"Change of Control" means (i) any transaction or series of related transactions that results in any Person or "group" (within the meaning of Section 13(d)(3) of the Exchange Act) acquiring equity securities that represent more than 50% of the total voting power of the Company or (ii) a sale or disposition of all or substantially all of the assets of the Company, in each case other than a transaction or series of related transactions which results in at least 50% of the combined voting power of the then outstanding voting securities of the Company (or any successor to the Company) immediately following the closing of such transaction (or series of related transactions) being beneficially owned, directly or indirectly, by individuals and entities (or affiliates of such individuals and entities) who were the beneficial owners, respectively, of at least 50% of the equity securities of the Company immediately prior to such transaction (or series of related transactions).

[*For US Awardees*] The provisions regarding payments to be made under this letter agreement will be interpreted in such a manner that all such payments either comply with Section 409A of the Internal Revenue Code of 1986, as amended (the "Code") or are exempt from the requirements of Section 409A of the Code as "short-term deferrals" as described in Section 409A of the Code The Company may impose additional rules and requirements from time to time in order to comply with Section 409A of the Code, which will not require your consent.

It is understood that the Company makes no representations or warranties with respect to the tax consequences of the payments contemplated by this letter agreement under any federal, state, or provincial tax law. Except for the amount of withholdings by the Company, you will be solely responsible for paying any and all taxes owing on any payment provided to you under this letter agreement. You are encouraged to contact your personal legal or tax advisors with respect to the benefits provided hereunder.

[*For US Awardees*] Notwithstanding any other provision of this letter agreement, your employment with Venus shall remain "at will." Either Venus or you may terminate the employment relationship at any time, with or without cause, and with or without notice. No representations, promises or agreements for Venus to employ you for a particular term shall be binding on Venus unless expressly agreed upon in a writing signed by both you and an authorized representative of the Board.

This letter agreement will be construed in accordance with and governed by the laws of the [*state/province*], without regard to principles of conflict of laws of such [*state/province*]. This letter agreement represents the entire agreement between the parties with respect to the subject matter hereof and supersedes any and all prior agreements, whether written or oral, with respect thereto. This letter agreement may not be changed orally and may only be amended, revoked, changed or modified by a written agreement executed by you and the Company.

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Please review this agreement. Your signature below indicates that you have had the opportunity to consult with legal counsel of your choosing before entering into this Agreement. Further, your signature confirms that you have carefully read and fully understand all the provisions of this Agreement, and that you are entering into this Agreement based on your own judgment and have not relied upon any representations or promises not contained in this Agreement. Once you have reviewed and executed this Agreement, please return to Anna Georgiadis, Chief Human Resources Officer. Please retain a copy for your records.

I would like to take this opportunity to thank you for your contribution to the Company to date and in future.

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| |
|:---|
| Sincerely, |
| [*Authorized Signatory*] |
| ACCEPTED BY: |
| Signature |
| Printed Name |
| Date |

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