NASDAQ — Healthcare: Manufacturing, Medical Devices: Surgical & Medical Instruments & Apparatus
www.reshapelifesciences.comReShape Lifesciences Inc. and Vyome Therapeutics, Inc. have extended the termination date of their Merger Agreement from March 31, 2025, to June 30, 2025. This follows a promissory note where ReShape agreed to loan Vyome up to $400,000 for working capital and expenses related to the merger. The loan carries an 8.0% interest rate and if the merger is not completed by September 30, 2025, the note will become senior debt for Vyome. If the merger proceeds, the loan amount will be accounted as ReShape's net cash.
Merger Agreement Termination DateReShape Lifesciences Inc. will require repayment of a promissory note from Vyome Therapeutics, Inc. if their merger is not completed by September 30, 2025. The note, which amounts to a maximum of $400,000 plus interest at an annual rate of 8%, was issued to finance Vyome's working capital and related transaction expenses. If the merger succeeds prior to the repayment deadline, the note will not require payment but will be included as cash in ReShape’s net assets. This financial obligation could have significant implications for Vyome if the merger is terminated.
Repayment Due Date