Apyx Medical Corporation announced that entered into a Credit and Guaranty Agreement with Apyx China Holding Corp. and Apyx Bulgaria EOOD, the Company?s wholly-owned subsidiaries (as subsidiary guarantors), and Perceptive Credit Holdings IV, LP to issue senior secured term loan $45,000,000 on November 8, 2023. The transaction is comprised of two tranches an initial loan of $37,500,000 and a delayed draw loan of $7,500,000, subject to the Company funding the second tranche on or before December 31, 2024 and satisfying a minimum revenue target.

The Perceptive Credit Agreement matures on November 8, 2028.