Nov. 10 at 9:44 PM
$DRIO DarioHealth Corp. has entered into an amendment to its existing credit agreement with Callodine Commercial Finance, LLC and other lenders. The amendment resets certain financial covenants, waives financial-covenant testing for the second and third quarters of 2025, and replaces the minimum cash covenant with a
$10 million minimum consolidated unencumbered liquid assets requirement. It also introduces a monthly 13-week cash-flow reporting obligation when liquidity falls below
$11 million, subject to an EBITDA exception. Additionally, the amendment clarifies that an extra
$2.5 million in funding is uncommitted and at the lenders' discretion, increases the exit fee by
$150,000 (with a possible waiver under certain conditions), and reduces the exercise price of lender warrants and the conversion price on part of the loan. DarioHealth paid a
$150,000 amendment fee in connection with these changes.
