Summary by Moomoo AI
On April 29, 2024, ProSomnus, Inc., a medical technology company, announced the issuance and sale of an additional $2 million in Senior Secured Convertible Notes due December 6, 2025, to certain existing investors. This follows a previous issuance of the same amount on April 19, 2024. The notes are part of an agreement under an Indenture dated December 6, 2022, and supplemented by two subsequent indentures. The notes, bearing a 9% annual interest rate, are guaranteed by subsidiary guarantors and secured by the company's assets. This financial move comes after the Nasdaq Stock Market LLC filed to delist ProSomnus' common stock and warrants on April 24, 2024, due to non-compliance with certain listing requirements. Since April 18, 2024, the company's securities have been trading over-the-counter under the symbols 'OSAP' and 'OSAPW'. The delisting from Nasdaq is expected to have no practical effect on the current over-the-counter trading.