Short answer
KORU Medical Systems, Inc. (KRMD) filed an 8-K current report with the SEC on April 3, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation). Amendment No. 3 modifies KORU’s Loan and Security Agreement with HSBC Ventures USA Inc.
KORU Medical Systems, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- Amendment No. 3 modifies KORU’s Loan and Security Agreement with HSBC Ventures USA Inc
- Agreement dated March 30, 2026, indicating a material financing update
- Omitted schedules and exhibits limit visibility into revised borrowing terms and collateral provisions
Item 2.03 · Creation of a Direct Financial Obligation
- $5M revolving facility maturity extended to March 30, 2028, preserving liquidity access without current borrowing
- $5M term-loan interest-only period extended to June 30, 2027, with possible extension to December 31, 2027
- Term-loan maturity extended to December 1, 2029, reducing near-term repayment pressure
- Interest-rate floor lowered to 5.50% from 6.50%, potentially reducing borrowing costs
- Adjusted quick-ratio covenant removed; revolver replaced by 12-month liquidity test unless trailing three-month Adjusted EBITDA is positive
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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