By Sabela Ojea
Shares of Venus Concept fell after the company announced a $11 million debt-to-equity exchange transaction with Madryn Asset Management.
The stock was down 21% to $2.08 in post-market trading. Through Tuesday's close, shares have fallen 37% year to date and 62% over the past 12 months.
The Canadian medical aesthetic technology said that its total debt obligations reduced 54% to around $35.5 million following the exchange of $11 million of its subordinated convertible notes held by affiliates of Madryn for 379,311 shares of its Series Y preferred stock.
"This creates additional flexibility in our balance sheet as we continue the journey towards sustained, long-term growth and profitability," Chief Executive Rajiv De Silva said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
April 01, 2025 18:15 ET (22:15 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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