Venus Concept Announces $11 million Debt-to-Equity Exchange Transaction

Venus Concept Announces $11 million Debt-to-Equity Exchange Transaction

Benzinga
April 1, 2025

TORONTO, April 01, 2025 (GLOBE NEWSWIRE) -- Venus Concept Inc. ("Venus Concept" or the "Company") (NASDAQ:VERO), a global medical aesthetic technology leader, announced today that, on March 31, 2025, the Company exchanged $11.0 million of its subordinated convertible notes held by affiliates of Madryn Asset Management, LP ("Madryn") for 379,311 shares of its Series Y preferred stock. Following the transaction, the Company had total debt obligations of approximately $35.5 million, down 54% from $76.7 million outstanding as of March 31, 2024, and down 11% from $39.7 million outstanding as of December 31, 2024.

"Yesterday's transaction builds upon our on-going efforts to optimize the capital structure of the company, with an additional debt exchange that further reduces our debt balance," said Rajiv De Silva, Chief Executive Officer of Venus Concept. "This creates additional flexibility in our balance sheet as we continue the journey towards sustained, long-term growth and profitability. The transaction could not have been accomplished without Madryn's continued commitment to the partnership with Venus."

"We believe Venus has improved the business operationally through its transformation plan and the debt conversion reflects our support of the Company's journey," said Avinash Amin, MD, Managing Partner at Madryn Asset Management, LP. "We look forward to the next phase ...

https://www.benzinga.com/pressreleases/25/04/g44595830/venus-concept-announces-11-million-debt-to-equity-exchange-transaction

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