Fuse Medical, Inc. and CPM Medical Consultants, LLC and Zions Bancorporation, N.A. Execute Fourth Amendment to Amended and Restated Business Loan Agreement
December 20, 2019 at 01:44 pm EST
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On December 18, 2019, Fuse Medical, Inc. and CPM Medical Consultants, LLC (together with the company, the Borrowers ") and Zions Bancorporation, N.A. dba Amegy Bank (the Lender") executed that certain Limited Waiver and Fourth Amendment (the Fourth Amendment"), to the Amended and Restated Business Loan Agreement among the Borrowers and the Lender on December 31, 2017. Pursuant to the Fourth Amendment, the Lender waived certain Events of Default of the Borrowers under the Loan Agreement and amended and restated the Loan Agreement in its entirety as follows: (i) reducing the aggregate limit of the loans offered pursuant to the Loan Agreement (the Loans") to $2,750,000; (ii) reducing the annual salary of President and Chairman Mark Brooks to not exceed $550,000; (iii) amending the financial covenants of Borrowers to state that Borrowers will not permit EBITDA to be less than (i) $600,000 for the fiscal quarter ending December 31, 2019, and (ii) $125,000 for the fiscal quarter ending March 31, 2020; and (iv) extending the termination date of the loan to May 4, 2020.
Fuse Medical, Inc. is a manufacturer and distributor of medical devices in the United States. The Company provides a range of a portfolio of orthopedic implants, including foot and ankle, orthopedics, sports medicine and spine. It also provides a range of osteo-biologics and regenerative products, which include human allografts, tendons, synthetic skin and bone substitute materials, and regenerative tissues. Its foot and ankle product offerings include internal and external fixation for forefoot, midfoot and hindfoot reconstruction. Its orthopedics offer joint reconstruction systems for upper and lower extremities, which include the sterizo total knee, tibial revision, and total hip replacement systems, as well as the arrow total and reverse total shoulder system. Its sports medicine offers a line of fuse suture anchors and interference screws, as well as multiple products for soft tissue fixation augmentation. Its spine offers spinal products for cervical and thoracolumbar fusion.
Fuse Medical, Inc. and CPM Medical Consultants, LLC and Zions Bancorporation, N.A. Execute Fourth Amendment to Amended and Restated Business Loan Agreement
FUSE MEDICAL, INC. 
