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CUTERA, INC., ("Cutera" or "the Company"), a leading provider of aesthetic and dermatology solutions, today announced that it is initiating a restructuring transaction with the support of a group of existing lenders, representing approximately 74% of the Company's notes, to strengthen its balance sheet and position Cutera for long-term success.
Through the transaction, Cutera will reduce its debt by nearly $400 million, or over 90%, and raise $65 million in new money from its existing lenders. To implement the transaction, Cutera has filed voluntary "pre-packaged" Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Cutera will operate as usual throughout the court-supervised process and continue to provide best-in-class solutions to its customers around the globe without disruption.
Posted In: CUTR
