SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Pursuant to a borrowing notice CVRx, Inc. (the “Company”) provided to Innovatus Life Sciences Fund I, LP (“Innovatus”) on Friday, March 10, 2023, CVRx borrowed the $7.5 million remaining under the first tranche of its term loan facility with Innovatus, with $4.0 received on March 13, 2023 and $3.5 million received on March 15, 2023. The Company exercised its option to draw the remaining portion of the first tranche in light of the uncertainty in the banking industry. Following this draw, the Company will have $15.0 million in outstanding term loans under the Innovatus facility. The term loan facility continues to provide for two additional tranches of loans totaling up to an additional $35.0 million, based on the timing and other conditions set forth in the loan agreement.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: March 15, 2023||By:||/s/ Jared Oasheim|
|Name: Jared Oasheim|
|Its: Chief Financial Officer|