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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.