SEC Contract Filing

Filing Date: 2022-10-12

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d379755dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>Execution Version </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXCHANGE AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">This <B>EXCHANGE AGREEMENT </B>(including the schedules, annexes and exhibits hereto, this &#147;<B>Agreement</B>&#148;),
dated as of October&nbsp;12, 2022 (the &#147;<B>Effective Date</B>&#148;), is by and between Sientra, Inc., a Delaware corporation (the &#147;<B>Borrower</B>&#148;), and Deerfield Partners, L.P., in its capacity as Agent for itself as a lender and
as lender (the &#147;<B>Lender</B>&#148;). Capitalized terms used but not otherwise defined in this Agreement shall have the meanings given to them in the Facility Agreement (as defined below). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>RECITALS</U>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">A. The Borrower, the Lender and the other Loan Parties signatory thereto are parties to that certain Facility Agreement, dated
as of March&nbsp;11, 2020, as amended by the Amendment to Facility Agreement, dated as of April&nbsp;24, 2020, and further amended by the First Amendment to Facility Agreement, dated as of September&nbsp;28, 2021 (as the same previously has been
amended, modified, restated or otherwise supplemented from time to time, the &#147;<B>Existing Facility Agreement</B>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">B. The Lender holds a Convertible Note (as defined in the Existing Facility Agreement) issued by the Borrower to the Lender on
March&nbsp;11, 2020 in the initial principal amount of $60,000,000 (as the same previously has been amended, modified, restated or otherwise supplemented from time to time, the &#147;<B>Note</B>&#148;). As of the date hereof, the outstanding
principal amount of the Note is $60,000,000. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">C. Contemporaneously with the execution and delivery of this Agreement, the
Borrower and the Lender desire to amend and restate the Existing Facility Agreement as set forth in <U>Exhibit A</U> (as so amended and restated, and as the same may be further amended, modified, restated or otherwise supplemented from time to time,
the &#147;<B>Facility Agreement</B>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">D. The Borrower and the Lender are entering into this Agreement to provide for
the exchange, in accordance with Section&nbsp;3(a)(9) of the Securities Act of 1933, as amended (the &#147;<B>Securities Act</B>&#148;), and otherwise upon the terms and subject to the conditions set forth herein, of $10,000,000 principal amount of
the Note (the &#147;<B>Exchanged Principal Amount</B>&#148;) for shares of Common Stock and a <FONT STYLE="white-space:nowrap">pre-funded</FONT> warrant to purchase shares of Common Stock in substantially the form attached hereto as <U>Exhibit B</U>
(a &#147;<B><FONT STYLE="white-space:nowrap">Pre-Funded</FONT> Warrant</B>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><B>NOW, THEREFORE</B>, in consideration
of the foregoing and the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows:
</P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE I. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXCHANGE </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Section&nbsp;1.01. <U>Exchange</U>. Subject to the terms and conditions hereof, effective as of the Effective Date (as defined
below), the Lender and the Borrower hereby agree to exchange the Exchanged Principal Amount of the Note for the issuance and delivery by the Borrower to the Lender of (i) 2,967,742 shares of Common Stock (the &#147;<B>Exchange Shares</B>&#148;) and
(ii)&nbsp;a <FONT STYLE="white-space:nowrap">Pre-Funded</FONT> </P>
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Warrant to purchase 10,543,946 shares of Common Stock (the &#147;<B>Exchange Warrant</B>&#148;). The exchange contemplated by this <U>Section</U><U></U><U>&nbsp;1.01</U> is referred to herein as
the &#147;<B>Exchange</B>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Section&nbsp;1.02. <U>Exchange Settlement</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(a) Subject to the satisfac