On May 7, 2024, Madryn Asset Management, LP announced that on May 3, 2024, it has delivered a nonbinding transaction proposal to Venus Concept Inc. concerning a proposed restructuring of the Company?s current debt and equity capital structure. Pursuant to the proposal, Madryn Asset Management would exchange a portion of Main Street Lending Program loan and/or other debt instruments held by Madryn Asset Management for common stock, in addition to entering into a new senior secured credit facility as a part of a comprehensive restructuring of the Company?s outstanding debt. Madryn Asset Management stated that as a result of the transactions contemplated by the proposal, Madryn Asset Management would become the majority owners of the Company?s common stock on a fully diluted basis.