Venus Concept Announces $35 million Debt-to-Equity Exchange Transaction
TORONTO, May 28, 2024 (GLOBE NEWSWIRE) — Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ:VERO), a global medical aesthetic technology leader, today announced that, on May 24, 2024, the Company exchanged $35.0 million of its senior debt held by affiliates of Madryn Asset Management, LP (“Madryn”) for 576,986 shares of newly-created Series Y preferred stock. Each share of Series Y preferred stock is convertible into common stock on a 1-for-100 basis at the option of the holder at any time, or automatically upon the Company’s completion of a $30.0 million common equity raise, subject to certain other conditions.