Document:

Exhibit 10.25

 

SUPPLEMENT

to the

Loan and Security Agreement

dated as of August 24, 2021

between

SUNEVA MEDICAL, INC. (“Borrower”)

and

Avenue Venture Opportunities Fund, L.P. (“Lender”)

 

 

 

This is a Supplement identified in the document
entitled Loan and Security Agreement, dated as of August 24, 2021 (as amended, restated, supplemented and modified from time to time,
the “Loan and Security Agreement”), by and between Borrower and Lender. All capitalized terms used in this Supplement
and not otherwise defined in this Supplement have the meanings ascribed to them in Article 10 of the Loan and Security Agreement, which
is incorporated in its entirety into this Supplement. In the event of any inconsistency between the provisions of the Loan and Security
Agreement and this Supplement, this Supplement is controlling.

 

In addition to the provisions of the Loan and Security Agreement, the
parties agree as follows:

 

Part 1 - Additional Definitions:

 

“Amortization Period”
means the period commencing on the first day of the first full calendar month following the Interest-only Period and continuing until
the Maturity Date.

 

“Commitment”
means, subject to the terms and conditions set forth in the Loan and Security Agreement and this Supplement, Lender’s commitment
to make Growth Capital Loans to Borrower up to the aggregate original principal amount of Fifteen Million Dollars ($15,000,000), with
Eight Million Dollars ($8,000,000) funded on the Closing Date (“Tranche 1”); up to Five Million Dollars ( $5,000,000)
to be funded between the Tranche 2 Start Date and the Tranche 2 End Date, subject to the conditions in Section 1(a)(i) of Part 2 (“Tranche
2”); and Two Million Dollars ($2,000,000) to be funded on the Closing Date in the form of the Lender Convertible Note (provided
that, if the Lender Convertible Note is to be converted into Borrower’s equity securities, either upon the “Maturity Date”
(as defined in the Lender Convertible Note) or otherwise and the Obligations (other than inchoate indemnity obligations) under the Loan
Documents have not been otherwise paid in full, Lender shall have the option to treat such Two Million Dollars ($2,000,000), plus any
accrued and unpaid interest thereon under the Lender Convertible Note, as funded as part of (and subject to the same terms and conditions,
including but not limited to repayment, of) Tranche 1 (for a total principal amount of Tranche 1 of Ten Million Dollars ($10,000,000));
the effective date of Lender’s election of such treatment, the “Convertible Note Flip Date”). For the avoidance
of doubt, on and after the Convertible Note Flip Date, the obligations of Borrower under the Lender Convertible Note shall be deemed fully
discharged and paid in full.

 

“Convertible Debt
Offering” means Borrower’s offering to certain persons of the Convertible Notes, on terms and conditions reasonably acceptable
to Lender.

 

“Convertible Notes”
means the Subordinated Convertible Promissory Notes issued by Borrower as part of the Convertible Debt Offering and “Lender Convertible
Note” means the Subordinated Convertible Promissory Notes issued by Borrower to Lender on or about the Closing Date, as modified,
amended and or amended and restated from time to time, including by that certain First Amendment to Subordinated Convertible Promissory
Note dated as of the Closing Date; provided the same are unsecured and otherwise constitute Subordinated Debt.

 

“Designated Rate”
means, for each Growth Capital Loan, a variable rate of interest per annum equal to the sum of (i) the greater of (A) the Prime Rate and
(B) three and one-quarters percent (3.25%), plus (ii) seven and one-quarter percent (7.25%). Changes to the Designated
Rate based on changes to the Prime Rate shall be effective as of the next scheduled interest payment date immediately following such change.

 

     

    

    

 

“Final Payment”
means a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) equal to four
and one-quarter percent (4.25%) of the original Commitment amount of Fifteen Million Dollars ($15,000,000.00).

 

“Growth Capital Loan”
means any Loan requested by Borrower and funded by Lender under its Commitment for general corporate purposes of Borrower, including,
without limitation, the repayment of up to Five Million Dollars ($5,000,000.00) owing by Borrower to HCRP MGS Account Management, LLC
(“HCRP”); provided that, as of the Closing Date, Borrower shall satisfy in full the Indebtedness owing HCRP and deliver
to Lender evidence of the same, in form and content acceptable to Lender.

 

“Interest-only Period”
means the period commencing on the Closing Date and continuing until the twelfth (12th)
month anniversary of the Closing Date; provided, however, that such period shall be extended for six (6) months if as of the last day
of the Interest-only Period then in effect, Borrower has received any Loan under Tranche 2; provided, further, however, that the
Interest-only Period shall not exceed eighteen (18) months.

 

“IPO” as
used herein, means a sale of Borrower’s securities pursuant to a registration statement filed by Borrower under the Securities Act
(or pursuant to the laws of the jurisdiction in which the initial public offering is completed), in connection with the first firm commitment
underwritten offering of Borrower’s securities to the general public.

 

“Loan”
or “Loans” mean, as the context may require, individually a Growth Capital Loan, and collectively, the Growth Capital
Loans.

 

“Loan Commencement
Date” means, with respect to each Growth Capital Loan: (a) the first day of the first full calendar month following the Borrowing
Date of such Loan if such Borrowing Date is not the first day of a month; or (b) the same day as the Borrowing Date if the Borrowing Date
is the first day of a month.

 

“Maturity Date” means August 24, 2024.

 

“Prepayment Fee” means, with respect to
any prepayment of the Loans:

 

(i) if
the prepayment occurs during the period commencing on the Closing Date and ending on (but including) the last day of the Interest-only
Period, an amount equal to the principal amount of such Loans prepaid multiplied by three percent (3.00%); and

 

(ii) if
the prepayment occurs during the period commencing on the day immediately following the Interest-only Period and ending on (but excluding)
the Maturity Date, an amount equal to the principal amount of the Loans prepaid multiplied by one percent (1.00%).

 

“Prime Rate”
is the rate of interest per annum from time to time published in the money rates section of The Wall Street Journal or any successor publication
thereto as the “prime rate” then in effect; provided that, in the event such rate of interest is less than zero, such rate
shall be deemed to be zero for purposes of this Supplement; and provided further that if such rate of interest, as set forth from time
to time in the money rates section of The Wall Street Journal, becomes unavailable for any reason as determined by Lender, the “Prime
Rate” shall mean the rate of interest per annum announced by Silicon Valley Bank as its prime rate in effect at its principal office
in the State of California (such announced Prime Rate not being intended to be the lowest rate of interest charged by such institution
in connection with extensions of credit to debtors); provided that, in the event such rate of interest is less than zero, such rate shall
be deemed to be zero for purposes of this Supplement.

 

“Primary Operating Account” is Borrower’s
account set forth in Part 2, Section 6 hereof.

 

“Revenue” means revenue, determined in
accordance with GAAP.

 

    2

    

    

 

“SPAC Transaction”
means any transaction involving Borrower and any special purpose acquisition company, whether merger, acquisition, public (or other) offering,
sale, transfer or other exchange, of equity securities, or otherwise.

 

“Termination Date”
means the earlier of: (i) the date Lender may terminate making Growth Capital Loans or extending other credit pursuant to the rights of
Lender under Article 7 of the Loan and Security Agreement; and (ii) April 30, 2022.

 

“Threshold Amount” means Two Hundred Fifty
Thousand Dollars ($250,000.00).

 

“Tranche 2 End Date” means April 30, 2022.

 

“Tranche 2 Milestones”
means Borrower has: (1) achieved at least Seventeen Million Five Hundred Thousand Dollars ($17,500,000.00) of trailing six (6) month Revenue
as of the month immediately prior to the funding of Tranche 2; and (2) received at least Twenty Million Dollars ($20,000,000.00) in net
cash proceeds from the sale and issuance of Borrower’s equity securities or Subordinated Debt after the Closing Date (excluding,
for the sake of clarity, the conversion of any Indebtedness on or about the Closing Date); in each case, subject to written evidence of
the same, in form and content reasonably acceptable to Lender.

 

“Tranche 2 Start
Date” means November 1, 2021, but subject to Borrower’s achievement of the Tranche 2 Milestones.

 

“Warrant” is defined in Part 2, Section
3(a) hereof.

 

Part 2 - Additional Covenants and Conditions:

 

 1. Growth Capital Loan Facility.

 

(a) Additional
Condition(s) Precedent Regarding Growth Capital Loan Commitments. In addition to the satisfaction of all of the other applicable conditions
precedent specified in Sections 4.1 and 4.2 of the Loan and Security Agreement and this Supplement, Lender’s obligation to fund
Tranche 2 and Tranche 3 of its Commitment of Growth Capital Loans is subject to receipt by Lender of evidence that the following conditions
precedent have been satisfied, as determined by Lender in its sole discretion:

 

 (i) with respect to Tranche 2, Borrower has achieved the Tranche 2 Milestones; and

 

Subject to satisfaction of
the conditions precedent specified in Sections 4.1 and Section 4.2 of the Loan and Security Agreement and this Supplement, Lender agrees
to make Growth Capital Loans to Borrower under Lender’s Commitment from time to time from and after the Closing Date up to and including
the Termination Date in an aggregate, original principal amount up to, but not exceeding, then then-unfunded portion of Lender’s
Commitment.

 

(b) Minimum
Funding Amount; Maximum Number of Borrowing Requests. Growth Capital Loans requested by Borrower to be made on a single Business Day
shall be for a minimum aggregate, original principal amount of One Million Dollars ($1,000,000.00); provided, however, that the initial
Growth Capital Loan shall be funded on the Closing Date in a minimum original principal amount of Eight Million Dollars ($8,000,000.00).
Borrower shall not submit a Borrowing Request more frequently than once per calendar month.

 

(c) Repayment of Growth
Capital Loans. Principal of, and interest on, each Growth Capital Loan shall be payable as set forth in a Note evidencing such
Growth Capital Loan (substantially in the form attached hereto as Exhibit “A”), which Note shall provide
substantially as follows: principal shall be fully amortized over the Amortization Period in equal, monthly principal installments
plus, in each case, unpaid interest thereon at the Designated Rate, commencing after the Interest-only Period of interest-only
installments at the Designated Rate. In particular, on the Borrowing Date applicable to such Growth Capital Loan, Borrower shall pay
to Lender (i) if the Borrowing Date is earlier than the Loan Commencement Date, interest only at the Designated Rate, in advance, on
the outstanding principal balance of the Growth Capital Loan for the period from the Borrowing Date through the last day of the
calendar month in which such Borrowing Date occurs (it being understood that this clause (i) shall not apply in the case the
Borrowing Date is on the same date as the Loan Commencement Date), and (ii) the first (1st) interest-only installment at the
Designated Rate, in advance, on the outstanding principal balance of the Note evidencing such Loan for the ensuing month. Commencing
on the first day of the second full month after the Borrowing Date and continuing on the first day of each month during the
Interest-only Period thereafter, Borrower shall pay to Lender interest only at the Designated Rate, in advance, on the outstanding
principal balance of the Loan evidenced by such Note for the ensuing month. Commencing on the first day of the first full month
after the end of the Interest-only Period, and continuing on the first day of each consecutive calendar month thereafter, Borrower
shall pay to Lender equal consecutive monthly principal installments in advance in an amount sufficient to fully amortize the Loan
evidenced by such Note over the Amortization Period, plus interest at the Designated Rate for such month. On the Maturity Date, all
principal and accrued interest then remaining unpaid and the Final Payment shall be due and payable.

 

    3

    

    

 

2. Prepayment.
The Growth Capital Loans may be prepaid as provided in this Section 2 only. Borrower may prepay all, but not less than all, outstanding
Growth Capital Loans in whole, but not in part, at any time upon no less than five (5) Business Days’ prior written notice to the
Lender, by tendering to Lender a cash payment in respect of such Loans in an amount determined by Lender equal to the sum of: (i) the
aggregate outstanding principal amount of such Loans; (ii) the accrued and unpaid interest on such Loans as of the date of prepayment;
(iii) the Prepayment Fee; and (iv) the Final Payment; provided that, if Lender has not yet exercised its rights under Section 3(d) hereof,
Borrower shall provide written notice of prepayment at least ten (10) days in advance of the proposed prepayment date and Lender shall
have the option, with respect to the Conversion Option, to exercise its rights pursuant to Section 3(d) hereof by delivering written notice
to Borrower at least two (2) Business Days in advance of the proposed prepayment date; provided further, that Lender’s failure to
deliver such notice shall be deemed a waiver of Lender’s rights pursuant to Part 2, Section 3(c) hereof and such conversion right
shall terminate.

 

 3. Issuance of Warrant; Right to Invest; Conversion Right.

 

(a) Warrant.
As additional consideration for the making of its Commitment, Lender has earned and is entitled to receive immediately upon the execution
of the Loan and Security Agreement and this Supplement, a warrant instrument issued by Borrower (the “Warrant”).

 

(b) Warrant General.
The Warrant shall be in form and substance reasonably satisfactory to Lender.

 

 (c) Right to Invest.

 

(i) Investment
Right. Lender shall have the right, in its discretion, but not the obligation, to invest up to an aggregate of One Million
Dollars ($1,000,000.00) in equity securities of Borrower (the “Investment Right”) on the same terms, conditions,
and pricing offered by Borrower to any investor existing at such time, in connection with any offering of Borrower’s equity
securities after the Closing Date (collectively, the “Equity Offerings”), including in connection with a private
placement concurrent with any IPO (or direct listing of Borrower’s equity securities (at the initial IPO (or direct listing)
price) (subject in all respects to Part 2, Section 3(c)(ii) below), or a SPAC Transaction (subject in all respects to Part 2,
Section 3(c)(iii) below); provided, however, such terms shall exclude a seat on the Borrower’s Board of Directors, which may
be offered to other investors at Borrower’s discretion; provided, further, that, if Lender desires to exercise its Investment
Right, Lender shall first provide prior written notice to Borrower setting forth Lender’s desired investment amount no later
than 15 Business Days prior to the anticipated closing date of such Equity Offering (provided that Borrower has provided Lender no
less than ten (10) Business Days’ prior written notice of the terms and conditions of such Equity Offering) and Lender shall
cooperate to consummate its investment (including timely payment of the applicable sale price for such equity securities) in such
closing promptly upon receipt of documentation with respect thereto. The Investment Right (including, for purposes of clarity, the
Participation Rights (as defined below) shall terminate upon the earliest of (A) the repayment in full of all Obligations (other
than inchoate indemnity obligations) under the Loan and Security Agreement, (B) the date Lender has invested an aggregate of One
Million Dollars ($1,000,000.00) in Equity Offerings pursuant to this Part 2, Section 3(c)(i), (C) the effective date of the initial
registration statement covering a public offering of Borrower’s securities, (D) the consummation of a SPAC Transaction and (E)
the consummation of a merger or consolidation of Borrower that is effected (x) for independent business reasons unrelated to
extinguishing such right and (y) for purposes other than (a) the reincorporation of the Borrower in a different state or (b) the
formation of a holding company that will be owned exclusively by the Borrower’s stockholders and will hold all of the
outstanding shares of capital stock of Borrower’s successor. Any exercise notice of the Investment Right delivered to Borrower
shall be irrevocable.

 

    4

    

    

 

(ii) Private
Sale Investment Right. Notwithstanding anything in Part 2, Section 3(c)(i) above, in the event that either (A) Borrower is advised
by its outside legal counsel, the Securities and Exchange Commission (the “SEC”), the Financial Industry Regulatory
Authority (“FINRA”), or any stock exchange on which the Common Stock of Borrower (“Common Stock”)
is to be traded (the “Exchange”) that the offering or sale of Borrower’s securities to Lender pursuant to the
Investment Right would violate any federal or state securities laws or the rules or regulations of the SEC, FINRA, or the Exchange, or
(B) the managing underwriter reasonably determines that marketing factors require a limitation on the number of shares of Common Stock
to be underwritten in connection with the IPO and requests that Lender’s Investment Right be subject to (x) carve-backs, (y) restrictions,
or (z) other similar limitations (each of the events described in the foregoing clauses (x), (y) or (z), a “Cutback”),
then, in each case, Borrower shall offer to Lender the right to purchase in a separate private placement (the “Private Placement”)
(which shall be conducted concurrently with the IPO, and the closing of which shall be contingent on the closing of such IPO), at the
price to public in the IPO, up to that number of shares of Common Stock equal to the difference between the number of shares of Common
Stock that Lender would have been able to purchase pursuant to the Investment Right but for the applicable Cutback, and the number of
shares of Common Stock that Lender was actually permitted to purchase in such IPO pursuant to Section (i) above, if any (the “Private
Sale Investment Right”). Notwithstanding the foregoing, Lender agrees that the number of shares Lender is entitled to purchase
pursuant to the Private Sale Investment Right may be reduced or modified to the extent reasonably requested by the underwriter or counsel
to Borrower so as to not cause a material and adverse effect on the IPO. If Lender exercises its Private Sale Investment Right, Borrower
and Lender shall execute and deliver such documents that are (x) customary for a transaction structured as a concurrent private placement
with a public offering, including without limitation customary resale registration rights, and (y) reasonably satisfactory to Borrower,
Lender, and the managing underwriter. The Company may withdraw its registration statement for an IPO at any time and for any reason it
sees fit without incurring any liability under this Supplement, the Loan and Security Agreement or otherwise to Lender.

 

(iii) SPAC
Transaction Investment Right. Notwithstanding anything in Part 2, Section 3(c)(i) above, if Borrower proposes to enter into a SPAC
Transaction, and the special purpose acquisition company (“SPAC”) proposes to offer or sell securities in a private
placement transaction that is contemporaneous with, or otherwise connected to or conditioned on, such SPAC Transaction, Borrower will
use its commercially reasonable efforts, in compliance with and subject to all applicable laws and regulations, to ensure that Lender
is given the opportunity to exercise the Investment Right with respect to such private placement transaction (the “SPAC Transaction
Investment Right”, and together with the Private Sale Investment Right, the “Participation Rights”). Borrower
acknowledges and agrees that, for purposes of this Part 2, Section 3(c)(iii), commercially reasonable efforts shall include, but not be
limited to, requesting that the sponsor or management of the SPAC acknowledge and consider providing the benefit of such Investment Right
to Lender.

 

(d) Conversion
Right. Lender shall have the right, in its discretion, but not the obligation, at any time and from time to time, while the Loan
is outstanding, to convert an amount of up to Two Million Dollars ($2,000,000.00) of the principal amount of the outstanding Growth
Capital Loans (the “Conversion Option”) into Warrant Stock (as defined in the Warrant) at a price per share equal
to one hundred twenty percent (120.00%) of the Stock Purchase Price set forth (and as defined) in the Warrant (the
“Conversion Price;” the exercise of such Conversion Option, a “Conversion”). The Conversion
Option will be exercised by Lender delivering a written, signed conversion notice to the Borrower in accordance with this Section
3(d) which will include (i) the date of which the conversion notice is given, (ii) a statement to the effect that the Lender is
exercising the Conversion Option, (iii) the amount in respect of which the Conversion Option is being exercised and the number of
shares issued and (iv) a date reasonably agreeable to both Borrower and Lender on which the allotment and issuance of the shares is
to take place; provided that in the event that (x) the Conversion Option is exercised in connection with an Equity Offering or (y)
the settlement of such Conversion Option would occur on or about a date within 5 Business Days of the anticipated closing date of
any Equity Offering, Lender shall deliver such conversion notice to Borrower no later than 15 Business Days prior to the anticipated
closing date of such Equity Offering (provided that Borrower has provided Lender no less than 10 Business Days’ prior written
notice of the terms and conditions of such Equity Offering). Any conversion notice delivered to Borrower pursuant to this Part 2,
Section 3(d) shall be irrevocable.

 

    5

    

    

 

4. Commitment
Fee. Borrower shall pay to Lender a commitment fee in the amount of one percent (1.00%) of the Fifteen Million Dollars ($15,000,000.00)
Tranche 1 Commitment due and payable on the Closing Date, of which Seventy-Five Thousand Dollars ($75,000.00) has been paid by Borrower
to Lender as an advance deposit prior to the date hereof. As an additional condition precedent under Section 4.1 of the Loan and Security
Agreement, Lender shall have completed to its satisfaction its due diligence review of Borrower’s business and financial condition
and prospects, and Lender’s Commitment shall have been approved. If this condition is not satisfied, the Seventy-Five Thousand Dollars
($75,000.00) advance deposit previously paid by Borrower shall be refunded. Except as set forth in this Section 4, the Commitment Fee
is not refundable.

 

5. Documentation
Fee Payment. On the Closing Date, Borrower shall reimburse Lender pursuant to Section 9.8(a) of the Loan and Security Agreement
for (i) its reasonable and documented attorneys’ fees, out-of-pocket costs and expenses incurred in connection with the preparation
and negotiation of the Loan Documents and (ii) such Lender’s costs and filing fees related to perfection of its Liens in the Collateral
in any jurisdiction in which the same is located, recording a copy of the Intellectual Property Security Agreement with the United States
Patent and Trademark Office or the United States Copyright Office, as applicable, and confirming the priority of such Liens.

 

 6. Borrower’s Primary Operating Account and Wire Transfer Instructions:

 

	 	Institution Name:	 	 
	 	Address:

                                                                               
	 	 
	 	ABA No.:	 	 
	 	Contact Name:	 	 
	 	Phone No.:	 	 
	 	E-mail:	 	 
	 	Account Title:	 	 
	 	Account No.:	 	 

 

7. Debits
to Account for ACH Transfers. For purposes of Sections 2.2 and 5.10 of the Loan and Security Agreement, the Primary Operating Account
shall be the bank account set forth in Section 6 above, unless and until such account is changed in accordance with Section 5.10 of the
Loan and Security Agreement. Borrower hereby agrees that the Growth Capital Loans will be advanced to the account specified above and
regularly scheduled payments of principal, interest and fees will be automatically debited from the same account. Borrower hereby confirms
that the bank at which the Primary Operating Account is maintained uses that same ABA Number for incoming wires transfers to the Primary
Operating Account and outgoing ACH transfers from the Primary Operating Account.

 

Part 3 - Additional Representations:

 

Borrower represents and warrants that as of the Closing Date and, subject
to any written updates of the information set forth below by Borrower to Lender, each Borrowing Date:

 

		a)	Its chief executive office is located at: 5870 Pacific Center Blvd., San Diego, CA 92121

 

		b)	Its Equipment is located at: 5870 Pacific Center Blvd., San Diego, CA 92121

 

    6

    

    

 

		c)	Its Inventory is located at: 5870 Pacific Center Blvd., San Diego, CA 92121

 

		d)	Its Records are located at: 5870 Pacific Center Blvd., San Diego, CA 92121

 

		e)	In addition to its chief executive office, Borrower maintains offices or operates its business at the following locations: N/A

 

		f)	Other than its full corporate name, Borrower has conducted business using the following trade names or fictitious business names in
the five years prior to the Closing Date: N/A

 

		g)	Its state corporation identification number is: [*]

 

		h)	Its U.S. federal tax identification number is: [*]

 

		i)	Including Borrower’s Primary Operating Account identified in Section 6 above, Borrower maintains the following Deposit Accounts
and investment accounts:

 

	 	Bank Acct #	Bank Acct Name	Bank	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

Part 4 - Additional Loan Documents:

 

	Form of Promissory Note	Exhibit “A”
	Form of Borrowing Request	Exhibit “B”
	Form of Compliance Certificate	Exhibit “C”

 

[Remainder of this page intentionally left blank;
signature page follows]

 

    7

    

    

 

[Signature page to Supplement
to Loan and Security Agreement]

 

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

 

	 	BORROWER:
	 	 
	 	SUNEVA MEDICAL, INC.
	 	 
	 	By:	/s/
    Patricia Altavilla
	 	Name:	Patricia Altavilla
	 	Title:	President and Chief Executive Officer
	 	 	 
	Address for Notices:	 
	 	5870 Pacific Center Blvd.
	 	San Diego, California 92121
	 	Attn: Patricia Altavilla
	 	Email:
	 	Phone #
	 	 
	 	LENDER:
	 	 
	 	AVENUE VENTURE OPPORTUNITIES FUND, L.P.
	 	 
	 	By:	Avenue Venture Opportunities Partners, LLC
	 	Its:	General Partner
	 	 	 
	 	By:	 
	 	Name: 	Sonia Gardner
	 	Title:	Authorized Signatory
	 	 	 
	Address for Notices:	11 West 42nd Street, 9th
    Floor
	 	New York, New York 10036
	 	Attn:
	 	Email:
	 	Phone

 

     

    

    

 

[Signature page to Supplement to Loan and Security
Agreement]

 

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

 

	 	BORROWER:
	 	 	 
	 	SUNEVA MEDICAL, INC.
	 	 	 
	 	By:	
	 	Name:	Patricia Altavilla
	 	Title:	President and Chief Executive Officer
	 	 	 
	Address for Notices:	
	 	5870 Pacific Center Blvd.
	 	San Diego, California 92121
	 	Attn: Patricia Altavilla
	 	Email:
	 	 	 
	 	LENDER:
	 	 	 
	 	AVENUE VENTURE OPPORTUNITIES FUND, L.P.
	 	 	 
	 	By:	Avenue Venture Opportunities Partners, LLC
	 	Its:	General Partner
	 	 	 
	 	By:	/s/ Sonia
    Gardner
	 	Name: 	Sonia Gardner
	 	Title:	Authorized Signatory
	 	 	 
	Address for Notices:	11 West 42nd Street, 9th
    Floor
	 	New York, New York 10036

 

     

    

    

 

EXHIBIT “A”

 

FORM OF PROMISSORY NOTE

 

[Note No. X-XXX]

 

	$____________________	August __, 2021

 

The undersigned (“Borrower”)
promises to pay to the order of AVENUE VENTURE OPPORTUNITIES FUND, L.P., a Delaware limited partnership (“Lender ”),
at such place as Lender may designate in writing, in lawful money of the United States of America, the principal sum of ______________________________
Dollars ($__________), with interest thereon from the date hereof until maturity, whether scheduled or accelerated, at a variable rate
per annum equal to the sum of (i) the greater of (A) the Prime Rate and (B) three and one-quarters percent (3.25%), plus (ii) seven and
one-quarter percent (7.25%) (the “Designated Rate”), according to the payment schedule described herein, except as
otherwise provided herein. In addition, on the Maturity Date, the Borrower promises to pay to the order of Lender (i) all principal and
accrued interest then remaining unpaid and (ii) the Final Payment (as defined in the Loan Agreement (as defined herein)).

 

This Note is one of the Notes referred to in,
and is entitled to all the benefits of, a Loan and Security Agreement, dated as of August __, 2021, between Borrower and Lender (as the
same has been and may be amended, restated or supplemented from time to time, the “ Loan Agreement”). Each capitalized
term not otherwise defined herein shall have the meaning set forth in the Loan Agreement. The Loan Agreement contains provisions for the
acceleration of the maturity of this Note upon the happening of certain stated events.

 

Principal of and interest on this Note shall be
payable as provided under Section 2 of Part 2 of the Supplement to the Loan Agreement.

 

This Note may be prepaid only as permitted under Section 2 of Part
2 of the Supplement to the Loan Agreement.

 

Any unpaid payments of principal or interest on
this Note shall bear interest from their respective maturities, whether scheduled or accelerated, at a rate per annum equal to the Default
Rate, compounded monthly. Borrower shall pay such interest on demand.

 

Interest, charges and fees shall be calculated
for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year
were used. In no event shall Borrower be obligated to pay interest, charges or fees at a rate in excess of the highest rate permitted
by applicable law from time to time in effect.

 

If Borrower is late in making any scheduled payment
under this Note by more than five (5) days, Borrower agrees to pay a “late charge” of five percent (5%) of the installment
due, but not less than fifty dollars ($50) for any one such delinquent payment. This late charge may be charged by Lender for the purpose
of defraying the expenses incidental to the handling of such delinquent amounts. Borrower acknowledges that such late charge represents
a reasonable sum considering all of the circumstances existing on the date of this Note and represents a fair and reasonable estimate
of the costs that will be sustained by Lender due to the failure of Borrower to make timely payments. Borrower further agrees that proof
of actual damages would be costly and inconvenient. Such late charge shall be paid without prejudice to the right of Lender to collect
any other amounts provided to be paid or to declare a default under this Note or any of the other Loan Documents or from exercising any
other rights and remedies of Lender.

 

    1

    

    

 

[Signature page to Promissory Note]

 

This Note shall be governed by, and construed in accordance with, the
laws of the State of California, excluding those laws that direct the application of the laws of another jurisdiction.

 

	 	SUNEVA MEDICAL, INC.
	 	 	 
	 	By:	             
	 	Name:	 
	 	Its:	 

 

    2

    

    

 

EXHIBIT “B”

 

FORM OF BORROWING REQUEST

 

August __, 2021

 

Avenue Venture Opportunities Fund, L.P.

11 West 42nd Street, 9th Floor

New York, New York 10036

 

Re:      SUNEVA MEDICAL, INC.

 

Ladies and Gentlemen:

 

Reference is made to the Loan and Security Agreement,
dated as of August __, 2021 (as amended, restated or supplemented from time to time, the “ Loan Agreement”; the capitalized
terms used herein as defined therein), between Avenue Venture Opportunities Fund, L.P. (“Lender”) and SUNEVA MEDICAL,
INC. (“Borrower”).

 

The undersigned is the ____________________ of Borrower and hereby
requests on behalf of Borrower a Loan under the Loan Agreement, and in that connection certifies as follows:

 

1. The amount of the proposed
Loan is _______________________ Dollars ($_________________). The Borrowing Date of the proposed Loan is ___________________ (the “Borrowing
Date”).

 

(a) On
the Borrowing Date, the Lender will wire $[_________] less fees and expenses to be deducted on the Borrowing Date of (a) $150,000.00 in
respect to the Commitment Fee, of which $75,000.00 has been paid to the Lender prior to the date hereof, (b) $[_________] in respect to
the interest fee, and (c) $[_________] in respect to the legal fees for net proceeds of $[___________] to Borrower pursuant to the following
wire instructions:

 

 

	 	Institution Name:	 	 
	 	Address:
	 	 
	 	ABA No.:	 	 
	 	Contact Name:	 	 
	 	Phone No.:	 	 
	 	E-mail:	 	 
	 	Account Title:	 	 
	 	Account No.:	 	 

 

    1

    

    

 

(b) On the Borrowing Date, in connection with the payoff,
the Lender will wire $[6,500,000.00] to HCRP MGS Account Management, LLC pursuant to the following wire instructions:

 

	 	Institution Name:	 	 
	 	Address:
	 	 
	 	ABA No.:	 	 
	 	Contact Name:	 	 
	 	Phone No.:	 	 
	 	E-mail:	 	 
	 	Account Title:	 	 
	 	Account No.:	 	 

 

(c) On the Borrowing Date,
the Lender will wire $[__________] to Barnes & Thornburg LLP for fees and expenses pursuant to the following wire instructions:1

 

	 	Institution Name:	Fifth Third Bank, Indianapolis, IN	 
	 	ABA No.:	042000314	 
	 	Account Title:	Barnes & Thornburg LLP Attorney Operating Account	 
	 	Account No.:	7653510706	 
	 	Reference:	82485-9	 
	 	Confirm remittance:	wireconfirmations@btlaw.com	 

 

2. As
of this date, no Default or Event of Default has occurred and is continuing, or will result from the making of the proposed Loan, the
representations and warranties of Borrower contained in Article 3 of the Loan Agreement and Part 3 of the Supplement are true and correct
in all material respects other than those representations and warranties expressly referring to a specific date which are true and correct
in all material respects as of such date, and the conditions precedent described in Sections 4.1 and/or 4.2 of the Loan Agreement and
Part 2 of the Supplement, as applicable, have been met.

 

 3. No event has occurred that has had or could reasonably be expected to have a Material Adverse Change.

 

4. Borrower’s
most recent financial statements, financial projections or business plan dated ____________, as reviewed by Borrower’s Board of
Directors, are enclosed herewith in the event such financial statements, financial projections or business plan have not been previously
provided to Lender.

 

Remainder of this page intentionally left blank;
signature page follows

 

 

 

		1	To be included in the Borrowing Request on the Closing Date. The executed Borrowing Request must be delivered

		2	Business Days prior to the Closing Date.

 

    2

    

    

 

[Signature page to Borrowing Request]

 

Borrower shall notify you promptly before the funding
of the Loan if any of the matters to which I have certified above shall not be true and correct on the Borrowing Date.

 

	 	Very truly yours,
	 	 	 
	 	SUNEVA MEDICAL, INC.
	 	 	            
	 	By:	 
	 	Name:  	 
	 	Title:*	 

 

 

 

		*	Must be executed by Borrower’s Chief Financial Officer or other executive officer.

 

     

    

    

 

EXHIBIT “C”

 

FORM OF

COMPLIANCE CERTIFICATE

 

Avenue Venture Opportunities Fund, L.P.

11 West 42nd Street, 9th Floor

New York, New York 10036

 

Re:          SUNEVA MEDICAL, INC.

 

Ladies and Gentlemen:

 

Reference is made to the Loan
and Security Agreement, dated as of August __, 2021 (as the same has been and may be supplemented, amended and modified from time to time,
the “ Loan Agreement,” the capitalized terms used herein as defined therein), between Avenue Venture Opportunities
Fund, L.P. (“Lender”) and SUNEVA MEDICAL, INC. (“Borrower”).

 

The undersigned
authorized representative of Borrower hereby certifies in such capacity that in accordance with the terms and conditions of the Loan
Agreement, (i) no Default or Event of Default has occurred and is continuing, except as noted below, and (ii) Borrower is in
compliance for the financial reporting period ending ____________________________ with all required financial reporting under the
Loan Agreement, except as noted below. Attached herewith are the required documents supporting the foregoing certification. The
undersigned authorized representative of Borrower further certifies in such capacity that: (a) the accompanying financial statements
have been prepared in accordance with Borrower’s past practices applied on a consistent basis, or in such manner as otherwise
disclosed in writing to Lender, throughout the periods indicated; and (b) the financial statements fairly present in all material
respects the financial condition and operating results of Borrower and its Subsidiaries, if any, as of the dates, and for the
periods, indicated therein, subject to the absence of footnotes and normal year-end audit adjustments (in the case of interim
monthly financial statements), except as explained below.

 

Please provide the following requested information
and

indicate compliance status by circling (or
otherwise indicating) Yes/No under “Included/Complies”:

 

	REPORTING
    REQUIREMENT	REQUIRED	INCLUDED/COMPLIES
	 	 	 
	Balance Sheet, Income Statement & Cash Flow Statement	 	Monthly, within 30 days	YES / NO / N/A
	 	 	 
	Operating Budgets, 409(A) Valuations & Updated
    Capitalization Tables	 	As modified	YES / NO / N/A
	 	 	 
	Annual Financial Statements	Annually, within 180 day of fiscal year-end	YES / NO / N/A
	 	 	 
	Board Packages	 	As modified	YES / NO / N/A
	 	 	 	 
	Date
    of most recent Board-approved

 budget/plan ____________________		 	 
	 	 	 	 
	Any change in budget/plan since version
    most recently	YES
    / NO / N/A 
	delivered to Lender	 	 	
	If Yes, please attach	 	 	 
	 	 	 	 
	Date of most recent capitalization table:
    ____________________	 
	 	 
	Any changes in capitalization table since
    version most recently delivered to Lender?:	YES / NO / N/A
	If Yes,
    please attach a copy of latest capitalization table	 

 

    1

    

    

 

EQUITY & CONVERTIBLE NOTE FINANCINGS

 

Please provide the following information
(if applicable) regarding Borrower’s most-recent equity and/or convertible note financing each time this Certificate is delivered
to Lender

 

	Date of Last Round Raised:  _____________	 
	Has there been any new financing since the last Compliance Certificate submitted?	YES / NO
	If “YES” please attach a copy of the Capitalization Table	 
	 	 
	Date Closed: ______________  Series: _________Per Share Price: $_________________	 
	Amount Raised: _______________  Post Money Valuation: _____________	 
	 	 
	Any stock splits since date of last report?	YES / NO
	If yes, please provide any information on stock splits which would affect valuation:	 
	 	 
	 	 
	 	 
	Any dividends since date of last report?	YES / NO
	If yes, please provide any information on dividends which would affect valuation:	 
	 	 
	 	 
	 	 
	Any unusual terms? (i.e., Anti-dilution, multiple preference, etc.)	YES / NO
	If yes, please explain:	 
	 	 
	 	 

 

ACCOUNT CONTROL AGREEMENTS

 

Pursuant to Section 6.11 of the Loan Agreement,
Borrower represents and warrants that: (i) as of the date hereof, it maintains only those deposit and investment accounts set forth below;
and (ii) to the extent required by Section 6.11 of the Loan Agreement, a control agreement has been executed and delivered to Lender with
respect to each such account [Note: If Borrower has established any new account(s) since the date of the last compliance certificate,
please so indicate].

 

Deposit Accounts2

             
     

	 	Name of Institution	 	Account Number	 	Control Agt.	 	Complies	 	New
	 	 	 	 	 	In   place?	 	 	 	Account
	 	 	 	 	 	“Excluded Acc	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	1.)	[_______]	 	[_______]	 	YES / NO	 	YES / NO	 	YES / NO
	 	 	 	 	 	 	 	 	 	 
	2.)		 		 	YES / NO	 	YES / NO	 	YES / NO

 

 

 

		2	Company: Please complete with existing accounts.

 

    2

    

    

 

Investment
Accounts

 

	 	Name of Institution	 	Account Number	 	Control Agt.	 	Complies	 	New
	 	 	 	 	 	In place?	 	 	 	Account
	 	 	 	 	 	“Excluded Acc	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	1.)	None	 		 	YES / NO	 	YES / NO	 	YES / NO
	 	 	 	 	 	 	 	 	 	 
	2.)		 		 	YES / NO	 	YES / NO	 	YES / NO
	 	 	 	 	 	 	 	 	 	 
	3.)		 		 	YES / NO	 	YES / NO	 	YES / NO
	 	 	 	 	 	 	 	 	 	 
	4.)		 		 	YES / NO	 	YES / NO	 	YES / NO

 

AGREEMENTS WITH PERSONS IN POSSESSION OF TANGIBLE COLLATERAL

 

Pursuant to Section 5.9(e) of the
Loan Agreement, Borrower represents and warrants that: (i) as of the date hereof, tangible Collateral is located at the addresses
set forth below; and (ii) to the extent required by Section 5.9(e) of the Loan Agreement, a Waiver has been executed and delivered
to Lender, or such Waiver has been waived by Lender, [Note: If Borrower has located Collateral at any new location since the
date of the last compliance certificate, please so indicate].

 

	 	Location of Collateral		Value of Collateral at such	 	Waiver	 	Complies?	 	New
	 			Locations	 	 In place?	 		 	Location?
	 	 	 	 	 	 	 	 	 	 
	1.)		 	$	           	 	YES / NO	 	YES / NO	 	YES / NO
	 	 	 	 	 	 	 	 	 	 	 
	2.)		 	$	 	 	YES / NO	 	YES / NO	 	YES / NO
	 	 	 	 	 	 	 	 	 	 	 
	3.)		 	$	 	 	YES / NO	 	YES / NO	 	YES / NO
	 	 	 	 	 	 	 	 	 	 	 
	4.)		 	$	 	 	YES / NO	 	YES / NO	 	YES / NO

  

SUBSIDIARIES AND OTHER PERSONS

 

Pursuant to Section 6.14(a) of the Loan
Agreement, Borrower represents and warrants that: (i) as of the date hereof, it has directly or indirectly acquired or created, or it
intends to directly or indirectly acquire or create, each Subsidiary or other Person described below; and (ii) such Subsidiary or Person
has been made a co-borrower under the Loan Agreement or a guarantor of the Obligations [Note: If Borrower has acquired or created
any Subsidiary since the date of the last compliance certificate, please so indicate].

 

	 	Name:	 	Jurisdiction of	 	Co-borrower	 	Complies?	 	New
	 		 	formation or organization:3	 	or guarantor?	 	 	 	Subsidiary
	 	 	 	 	 	 	 	 	 	or Person?
	 	 	 	 	 	 	 	 	 	 
	1.)	 	 	 	 	YES / NO	 	YES / NO	 	YES / NO
	 	 	 	 	 	 	 	 	 	 
	2.)	 	 	 	 	YES / NO	 	YES / NO	 	YES / NO
	 	 	 	 	 	 	 	 	 	 
	3.)	 	 	 	 	YES / NO	 	YES / NO	 	YES / NO
	 	 	 	 	 	 	 	 	 	 
	4.)	 	 	 	 	YES / NO	 	YES / NO	 	YES / NO

 

 

 

	3	Under the “Explanations” heading (see below)
please include a description of such Subsidiary’s or Person’s fully diluted capitalization and Borrower’s purpose for
its acquisition or creation of such Subsidiary if such information has not been previously furnished to Lender.

 

    3

    

    

 

	EXPLANATIONS
	 
	 
	 
	 
	 

 

[Remainder of this page intentionally left blank;
signature page follows]

 

    4

    

    

 

[Signature page to Compliance Certificate]

 

	 	Very truly yours,
	 	 	 
	 	SUNEVA MEDICAL, INC.
	 	 	 
	 	By:	 
	 	Name: 	        
	 	Title:*	 

 

 

 

	*	Must be executed by Borrower’s Chief Financial Officer
or other executive officer.Exhibit
10.26

 

FIRST AMENDMENT
TO LOAN Documents

 

This First Amendment to Loan
Documents (this “Amendment”) is entered into as of May 10, 2022, by and between AVENUE VENTURE OPPORTUNITIES
FUND, L.P., a Delaware limited partnership (“Lender”) and SUNEVA MEDICAL, INC., a Delaware corporation (“Borrower”).

 

RECITALS

 

Borrower and Lender are parties
to those certain Loan Documents dated as of August 24, 2021, including that certain Loan and Security Agreement (as amended from time
to time, the “Agreement”) and Supplement to Loan and Security Agreement (as amended from time to time, the “Supplement”).
The parties desire to amend the Agreement and Supplement in accordance with the terms of this Amendment.

 

NOW, THEREFORE, the parties agree as follows:

 

1. The
following terms and their respective definitions hereby are either amended and restated in, or, if applicable, added in their entirety
to, Part 1 of the Supplement as follows:

 

“Commitment”
means, subject to the terms and conditions set forth in the Loan and Security Agreement and this Supplement, Lender’s commitment
to make Growth Capital Loans to Borrower as follows: (1) Eight Million Dollars ($8,000,000) funded on the Closing Date (“Tranche
1”), (2) Two Million Dollars ($2,000,000) funded on the Closing Date in the form of the Lender Convertible Note (“Convertible
Tranche”), (3) Two Million One Hundred Sixty Thousand Dollars ($2,160,000) funded on the First Amendment Effective Date to refinance
the Convertible Tranche in full (the “Refinance Tranche”); and (4) Three Million Dollars ($3,000,000) to be funded
on the First Amendment Effective Date, subject to the conditions in Section 1(a)(i) of Part 2 (“Tranche 2”).

 

“Final Payment” means a payment
(in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) equal to five and one-quarter
percent (5.25%) of the aggregate principal amount of Loans outstanding as of the First Amendment Effective Date of Thirteen Million One
Hundred Sixty Thousand Dollars ($13,160,000.00).

 

“First Amendment Effective Date”
means May 10, 2022.

 

 “Interest-only Period”
means the period commencing on the Closing Date and continuing until February 28, 2023. 

 

“Tranche 2 End Date” means
May 15, 2022; but only in the event the SPAC Transaction has not closed prior thereto.

 

 “Tranche 2 Milestones”
means (1) Borrower has received at least Five Million Dollars ($5,000,000) in gross proceeds (less 1.00% fees and costs) from the sale
and issuance of Borrower’s convertible Subordinated Debt on or about the First Amendment Effective Date (including (i) the One Million
Dollars ($1,000,000) received from EW Healthcare Partners L.P. (“EW”) in connection with the Subordinated Convertible Promissory
Note, as amended, issued by Borrower to EW, dated as of January 3, 2022 (the “January 2022 EW Note”), (ii) the One
Million Five Hundred Thousand Dollars ($1,500,000) received from EW in connection with the Subordinated Convertible Promissory Note issued,
as amended, by Borrower to EW, dated as of February 8, 2022 (the “February 2022 EW Note”) and (iii) the One Million
Dollars ($1,000,000) received from EW in connection with the Subordinated Convertible Promissory Note, as amended, issued by Borrower
to EW, dated as of April 4, 2022 (the “April 2022 EW Note”)); with the balance funded by Intuitus (“Intuitus”));
and (2) (a) the SPAC Transaction has not closed prior thereto; and (b) Borrower has received from Intuitus at least One Million Five Hundred
Thousand Dollars ($1,500,000) in gross proceeds (less 1.00% fees and costs) from the sale and issuance to Intuitus of Borrower’s
convertible Subordinated Debt on or about the Funding Date of the Tranche 2 Term Loan; in each case of (1) and (2), subject to written
evidence of the same, in form and content reasonably acceptable to Lender.

 

     

     

    

 

2. [Reserved.]

 

3. Exhibit
C to the Supplement hereby is replaced in its entirety with Exhibit C attached hereto.

 

4. New
Section 5.12 hereby is added to the Agreement to read as follows:

 

“5.12  Financial Covenants.
Borrower shall maintain the following financial covenants:

 

(a) Minimum
Cash. Borrower shall at all times during the term hereof maintain minimum unrestricted cash, in Deposit Accounts subject to a control
agreement in favor of Lender, of One Million Dollars ($1,000,000).

 

(b) Equity
Event. Borrower shall receive, after the First Amendment Effective Date and on or before September 30, 2022, gross proceeds of at
least Ten Million Dollars ($10,000,000) (less 1.00% proceeds fees and costs) from the sale and issuance of Borrower’s equity securities
or Subordinated Debt (excluding the Subordinated Debt issued in satisfaction of the Tranche 2 Milestones).”

 

5. No
course of dealing on the part of Lender, nor any failure or delay in the exercise of any right by Lender, shall operate as a waiver thereof,
and any single or partial exercise of any such right shall not preclude any later exercise of any such right. Lender’s failure at
any time to require strict performance by Borrower of any provision shall not affect any right of Lender thereafter to demand strict compliance
and performance. Any suspension or waiver of a right must be in writing signed by an officer of Lender.

 

6. Unless
otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Loan Documents (as defined in the Agreement).
The Loan Documents, as amended hereby, shall be and remain in full force and effect in accordance with their respective terms and hereby
are ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment
shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Lender under the Loan Documents, as in effect
prior to the date hereof.

 

7. As a condition to the
effectiveness of this Amendment, Lender shall have received, in form and substance reasonably satisfactory to Lender, the following:

 

(a) this
Amendment, duly executed by Borrower;

 

(b) resolutions
of the Board of Directors of Borrower authorizing the execution, delivery and performance by Borrower of this Amendment and the other
Loan Documents, together with a certificate of incumbency and attaching Borrower’s charter and bylaws, as currently in effect, and
any necessary shareholder resolutions;

 

(c) a
Promissory Note with respect to the Refinance Tranche, duly executed by Borrower, substantially in the form attached hereto;

 

(d) a
Promissory Note with respect to Tranche 2, duly executed by Borrower, substantially in the form attached hereto;

 

    -2-

     

    

 

(e) a
Warrant to Purchase Shares of Stock of Borrower, duly executed by Borrower;

 

(f) a
Subordination Agreement, duly executed by each holder of Subordinated Debt;

 

(g) a
fully executed copy of, and evidence of Borrower’s receipt of the proceeds from, the February 2022 EW Note;

 

(h) a
fully executed copy of, and evidence of Borrower’s receipt of the proceeds from, the April 2022 EW Note;

 

(i) an
amendment fee in the amount of one percent (1.00%) of Tranche 2, which shall be due and payable on the First Amendment Effective Date,
and which may be netted from the Tranche 2 Term Loan;

 

(j) all
reasonable Lender expenses incurred through the date of this Amendment, which Borrower shall remit via wire transfer on the date of execution
of this Amendment per the instructions set forth on Annex A hereto; and

 

(k) such
other documents, and completion of such other matters, as Lender may reasonably deem necessary or appropriate.

 

8. This
Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one instrument.

 

[Balance of Page Intentionally
Left Blank]

 

    -3-

     

    

 

IN WITNESS WHEREOF, the undersigned have executed
this Amendment as of the first date above written.

 

	 	SUNEVA MEDICAL, INC.
	 	 	 
	 	By:	
	 	Name:	Patricia Altavilla
		Title:	 President and Chief Executive Officer
	 	 	 
		AVENUE VENTURE OPPORTUNITIES FUND, L.P.
	 	 	 
		By:	Avenue Venture Opportunities Partners, LLC
		Its:	General Partner
	 	 	 
		By:	
		Name: 	Sonia Gardner
		Title: 	Authorized Signatory

 

[Signature Page to
First Amendment to Loan Documents]

 

    -4-

     

    

 

AMENDED AND RESTATED

PROMISSORY NOTE

 

		Note No. 2
	 	 
	$2,160,000.00	May 10, 2022

 

The undersigned (“Borrower”) promises to pay to
the order of AVENUE VENTURE OPPORTUNITIES FUND, L.P., a Delaware limited partnership (“Lender”), at such place as Lender
may designate in writing, in lawful money of the United States of America, the principal sum of Two Million One Hundred Sixty Thousand
Dollars ($2,160,000) with interest thereon from the date hereof until maturity, whether scheduled or accelerated, at a variable rate per
annum equal to the sum of (i) the greater of (A) the Prime Rate and (B) three and one-quarters percent (3.25%), plus (ii) seven and one-quarter
percent (7.25%) (the “Designated Rate”), according to the payment schedule described herein, except as otherwise provided
herein. In addition, on the Maturity Date, the Borrower promises to pay to the order of Lender (i) all principal and accrued interest
then remaining unpaid and (ii) the Final Payment (as defined in the Loan Agreement (as defined herein)).

 

This Note is one of the Notes referred to in, and is entitled to all
the benefits of, a Loan and Security Agreement, dated as of August 24, 2021, between Borrower and Lender (as the same has been and may
be amended, restated or supplemented from time to time, the “Loan Agreement”). Each capitalized term not otherwise
defined herein shall have the meaning set forth in the Loan Agreement. The Loan Agreement contains provisions for the acceleration of
the maturity of this Note upon the happening of certain stated events.

 

Principal of and interest on this Note shall be payable as provided
under Section 2 of Part 2 of the Supplement to the Loan Agreement.

 

This Note may be prepaid only as permitted under Section 2 of
Part 2 of the Supplement to the Loan Agreement.

 

Any unpaid payments of principal or interest on this Note shall bear
interest from their respective maturities, whether scheduled or accelerated, at a rate per annum equal to the Default Rate, compounded
monthly. Borrower shall pay such interest on demand.

 

Interest, charges and fees shall be calculated for actual days elapsed
on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event
shall Borrower be obligated to pay interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from
time to time in effect.

 

If Borrower is late in making any scheduled payment under this Note
by more than five (5) days, Borrower agrees to pay a “late charge” of five percent (5%) of the installment due, but not less
than fifty dollars ($50) for any one such delinquent payment. This late charge may be charged by Lender for the purpose of defraying the
expenses incidental to the handling of such delinquent amounts. Borrower acknowledges that such late charge represents a reasonable sum
considering all of the circumstances existing on the date of this Note and represents a fair and reasonable estimate of the costs that
will be sustained by Lender due to the failure of Borrower to make timely payments. Borrower further agrees that proof of actual damages
would be costly and inconvenient. Such late charge shall be paid without prejudice to the right of Lender to collect any other amounts
provided to be paid or to declare a default under this Note or any of the other Loan Documents or from exercising any other rights and
remedies of Lender.

 

THIS NOTE REPLACES IN ITS ENTIRETY THAT CERTAIN SUBORDINATED CONVERTIBLE
PROMISSORY NOTE, NOTE NO. 2021A-4, ISSUED BY BORROWER TO LENDER IN THE ORIGINAL PRINCIPAL AMOUNT OF $2,000,000, DATED AUGUST 24, 2021
(THE “ORIGINAL NOTE”). THE ORIGINAL NOTE HEREBY IS CANCELLED, VOID AND OF NO FURTHER FORCE OR EFFECT.

 

[Signature page to Amended and Restated Promissory
Note]

 

    -5-

     

    

 

This Note shall be governed by, and construed in accordance with, the
laws of the State of California, excluding those laws that direct the application of the laws of another jurisdiction.

 

	 	SUNEVA MEDICAL, INC.
	 	 	 
	 	By:	
	 	Name: 	Patricia Altavilla
	 	Its:	President and Chief Executive Officer

 

     

     

    

 

PROMISSORY NOTE

 

		Note No. 3
	 	 
	$3,000,000.00	May 10, 2022

 

The undersigned (“Borrower”) promises to pay to
the order of AVENUE VENTURE OPPORTUNITIES FUND, L.P., a Delaware limited partnership (“Lender”), at such place as Lender
may designate in writing, in lawful money of the United States of America, the principal sum of Three Million Dollars ($3,000,000.00),
or such lesser amount as shall be provided by Lender to Borrower under the Loan Agreement (as hereafter defined), with interest thereon
from the date hereof until maturity, whether scheduled or accelerated, at a variable rate per annum equal to the sum of (i) the greater
of (A) the Prime Rate and (B) three and one-quarters percent (3.25%), plus (ii) seven and one-quarter percent (7.25%) (the “Designated
Rate”), according to the payment schedule described herein, except as otherwise provided herein. In addition, on the Maturity
Date, the Borrower promises to pay to the order of Lender (i) all principal and accrued interest then remaining unpaid and (ii) the Final
Payment (as defined in the Loan Agreement (as defined herein)).

 

This Note is one of the Notes referred to in, and is entitled to all
the benefits of, a Loan and Security Agreement, dated as of August 24, 2021, between Borrower and Lender (as the same has been and may
be amended, restated or supplemented from time to time, the “Loan Agreement”). Each capitalized term not otherwise
defined herein shall have the meaning set forth in the Loan Agreement. The Loan Agreement contains provisions for the acceleration of
the maturity of this Note upon the happening of certain stated events.

 

Principal of and interest on this Note shall be payable as provided
under Section 2 of Part 2 of the Supplement to the Loan Agreement.

 

This Note may be prepaid only as permitted under Section 2 of
Part 2 of the Supplement to the Loan Agreement.

 

Any unpaid payments of principal or interest on this Note shall bear
interest from their respective maturities, whether scheduled or accelerated, at a rate per annum equal to the Default Rate, compounded
monthly. Borrower shall pay such interest on demand.

 

Interest, charges and fees shall be calculated for actual days elapsed
on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event
shall Borrower be obligated to pay interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from
time to time in effect.

 

If Borrower is late in making any scheduled payment under this Note
by more than five (5) days, Borrower agrees to pay a “late charge” of five percent (5%) of the installment due, but not less
than fifty dollars ($50) for any one such delinquent payment. This late charge may be charged by Lender for the purpose of defraying the
expenses incidental to the handling of such delinquent amounts. Borrower acknowledges that such late charge represents a reasonable sum
considering all of the circumstances existing on the date of this Note and represents a fair and reasonable estimate of the costs that
will be sustained by Lender due to the failure of Borrower to make timely payments. Borrower further agrees that proof of actual damages
would be costly and inconvenient. Such late charge shall be paid without prejudice to the right of Lender to collect any other amounts
provided to be paid or to declare a default under this Note or any of the other Loan Documents or from exercising any other rights and
remedies of Lender.

 

[Signature page to Promissory Note]

 

     

     

    

 

This Note shall be governed by, and construed in accordance with, the
laws of the State of California, excluding those laws that direct the application of the laws of another jurisdiction.

 

	 	SUNEVA MEDICAL, INC.
	 	 	 
	 	By:	 
	 	Name:	Patricia Altavilla
	 	Its:	President and Chief Executive Officer

 

     

     

    

 

EXHIBIT “C”

 

FORM OF

COMPLIANCE CERTIFICATE

 

 

Avenue Venture Opportunities Fund, L.P.

11 West 42nd Street, 9th Floor

New York, New York 10036

 

	Re:	SUNEVA MEDICAL, INC.

 

Ladies and Gentlemen:

 

Reference is made to the Loan and Security Agreement,
dated as of August 24, 2021 (as the same has been and may be supplemented, amended and modified from time to time, the “Loan
Agreement,” the capitalized terms used herein as defined therein), between Avenue Venture Opportunities Fund, L.P. (“Lender”)
and SUNEVA MEDICAL, INC. (“Borrower”).

 

The undersigned authorized representative of Borrower
hereby certifies in such capacity that in accordance with the terms and conditions of the Loan Agreement, (i) no Default or Event of Default
has occurred and is continuing, except as noted below, and (ii) Borrower is in compliance for the financial reporting period ending ____________________________
with all required financial reporting under the Loan Agreement, except as noted below. Attached herewith are the required documents supporting
the foregoing certification. The undersigned authorized representative of Borrower further certifies in such capacity that: (a) the accompanying
financial statements have been prepared in accordance with Borrower’s past practices applied on a consistent basis, or in such manner
as otherwise disclosed in writing to Lender, throughout the periods indicated; and (b) the financial statements fairly present in all
material respects the financial condition and operating results of Borrower and its Subsidiaries, if any, as of the dates, and for the
periods, indicated therein, subject to the absence of footnotes and normal year-end audit adjustments (in the case of interim monthly
financial statements), except as explained below.

 

Please provide the following requested information
and

indicate compliance status by circling (or
otherwise indicating) Yes/No under “Included/Complies”:

 

	REPORTING REQUIREMENT	REQUIRED	INCLUDED/COMPLIES
	 	 	 
	Balance Sheet, Income Statement &	Monthly, within 30 days	YES / NO / N/A
	Cash Flow Statement	 	 
	 	 	 
	Operating Budgets, 409(A) Valuations &	 	 
	Updated Capitalization Tables	As modified	YES / NO / N/A
	 	 	 
	Annual Financial Statements	Annually, within 180 day of fiscal year-end	YES / NO / N/A
	 	 	 
	Board Packages	As modified	YES / NO / N/A
	 	 	 
	Date of most recent Board-approved	 	 
	budget/plan ________________		
	 	 	 
	Any change in budget/plan since version most
    recently delivered to Lender	 	 
	If Yes, please attach		YES / NO / N/A
	 	 	 
	FINANCIAL COVENANTS	REQUIRED ACTUAL	INCLUDED/COMPLIES
	 	 	 
	Minimum Cash (at all times)	$1,000,000 $_______________	YES / NO / N/A
	 	 	 
	Minimum Equity Event (by 9/30/2022)	$10,000,000 $_______________	 YES / NO / N/A
	 	 	 
	Date of most recent capitalization table:  ____________________	 	 
	 	 	 
	Any changes in capitalization table since version most recently delivered to Lender?: 	YES / NO / N/A
	If Yes, please attach a copy of latest capitalization table	 

 

     

     

    

 

EQUITY & CONVERTIBLE NOTE FINANCINGS

 

Please provide the following information (if applicable) regarding
Borrower’s most-recent equity and/or convertible note financing each time this Certificate is delivered to Lender

 

	Date of Last Round Raised: _____________	
	Has there been any new financing since the last Compliance Certificate submitted?	YES / NO
	If “YES” please attach a copy of the Capitalization Table	 
	 	 
	Date Closed: ______________ Series:_________ Per Share Price:  $_________________	
	Amount Raised: _______________ Post Money Valuation: _____________	
	 	 
	Any stock splits since date of last report?	YES / NO
	If yes, please provide any information on stock splits which would affect valuation:  	 
	 	 
	 
	 	 
	Any dividends since date of last report?	YES / NO
	If yes, please provide any information on dividends which would affect valuation: 	 
	 	 
	 
	 	 
	Any unusual terms?  (i.e., Anti-dilution, multiple preference, etc.)	YES / NO
	If yes, please explain:	 
	 	 
	 

 

ACCOUNT CONTROL AGREEMENTS

 

Pursuant to Section 6.11 of the Loan Agreement, Borrower represents
and warrants that: (i) as of the date hereof, it maintains only those deposit and investment accounts set forth below; and (ii) to the
extent required by Section 6.11 of the Loan Agreement, a control agreement has been executed and delivered to Lender with respect to each
such account [Note: If Borrower has established any new account(s) since the date of the last compliance certificate, please so
indicate].

 

Deposit Accounts1

 

	 	Name of Institution	Account Number	
    Control Agt. 

    In place? Or, “Excluded Account”?
	Complies	
    New

    Account

	
     

    1.)
	
     

    [_______]
	
     

    [_______]
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

	
     

    2.)
	
     

    ________________________
	
     

    _______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

 

	1	Company: Please complete with existing accounts.

 

     

     

    

 

Investment Accounts

 

	 	Name of Institution	Account Number	
    Control Agt. 

    In place? Or, “Excluded Account?”
    
	Complies	
    New

    Account

	
     

    1.)
	
     

    None
	
     

    ______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

	
     

    2.)
	
     

    _______________________
	
     

    _______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

	
     

    3.)
	
     

    _______________________
	
     

    _______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

	
     

    4.)
	
     

    ________________________
	
     

    _______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

 

AGREEMENTS WITH PERSONS IN POSSESSION OF TANGIBLE COLLATERAL

 

Pursuant to Section 5.9(e) of the Loan Agreement, Borrower represents
and warrants that: (i) as of the date hereof, tangible Collateral is located at the addresses set forth below; and (ii) to the extent
required by Section 5.9(e) of the Loan Agreement, a Waiver has been executed and delivered to Lender, or such Waiver has been waived by
Lender, [Note: If Borrower has located Collateral at any new location since the date of the last compliance certificate, please
so indicate].

 

	 	Location of Collateral	
    Value of Collateral at such 

    Locations
	
    Waiver 

    In place? 
	Complies?	
    New 

    Location?

	
     

    1.)
	
     

    _______________________
	
     

    $______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

	
     

    2.)
	
     

    _______________________
	
     

    $_______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

	
     

    3.)
	
     

    _______________________
	
     

    $_______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

	
     

    4.)
	
     

    ________________________
	
     

    $_______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

 

SUBSIDIARIES AND OTHER PERSONS

 

Pursuant to Section 6.14(a) of the Loan Agreement, Borrower represents
and warrants that: (i) as of the date hereof, it has directly or indirectly acquired or created, or it intends to directly or indirectly
acquire or create, each Subsidiary or other Person described below; and (ii) such Subsidiary or Person has been made a co-borrower under
the Loan Agreement or a guarantor of the Obligations [Note: If Borrower has acquired or created any Subsidiary since the date of
the last compliance certificate, please so indicate].

 

	 	Name:	
    Jurisdiction of 

    formation or organization:2
	
    Co-borrower 

    or guarantor?
	Complies?	
    New 

    Subsidiary 

    or Person?

	
     

    1.)
	
     

    _______________________
	
     

    ______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

	
     

    2.)
	
     

    _______________________
	
     

    _______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

	
     

    3.)
	
     

    _______________________
	
     

    _______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

	
     

    4.)
	
     

    ________________________
	
     

    _______________________
	
     

    YES / NO
	
     

    YES / NO
	
     

    YES / NO

 

EXPLANATIONS

 

________________________________________________________________________________________________

________________________________________________________________________________________________

________________________________________________________________________________________________

________________________________________________________________________________________________

 

	2	Under the “Explanations” heading (see below) please
include a description of such Subsidiary’s or Person’s fully diluted capitalization and Borrower’s purpose for its
acquisition or creation of such Subsidiary if such information has not been previously furnished to Lender.

 

[Remainder of this page intentionally left blank;
signature page follows]

 

     

     

    

 

[Signature page to Compliance Certificate]

 

	 	Very truly yours,
	 	 	 
	 	SUNEVA MEDICAL, INC.
	 	 	 
	 	By:	
	 	Name:	    
	 	Title:*	

 

	*	Must be executed by Borrower’s Chief Financial Officer
or other executive officer.

 

     

     

    

 

ANNEX A

 

(Barnes & Thornburg Wire Instructions)

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