Cutera Takes Steps to Strengthen Financial Foundation and Position the Company for Long-Term Success
Enters into agreement to reduce debt by nearly
Implementing pre-packaged financial restructuring plan with strong support of lenders, expected to emerge expeditiously within 60 days
Continues to operate as usual and provide best-in-class aesthetic and dermatology solutions to customers
Through the transaction, Cutera will reduce its debt by nearly
“Cutera has established a legacy of premium engineering, innovation, and service, and we are constantly evolving to better meet the needs of our customers and their patients,” said Taylor Harris, CEO of Cutera. “There is clear momentum underway across the business, and today we are taking an important step that will enable us to continue to execute on our growth initiatives and pursue our mission with a much stronger capital structure to support us. We are pleased to have the confidence of our lenders, who are aligned with our vision and invested in our future success. We thank our customers and partners for their continued support, and we are grateful to our employees for their commitment to Cutera. We look forward to continuing to innovate, serve our customers, and improve patient lives for many years to come.”
Cutera has negotiated and solicited votes on its restructuring plan in advance and expects to complete this process quickly and efficiently, within 60 days. At the end of the process, Cutera will be a private company, with a much stronger capital structure and the backing of a large consortium of leading investment firms.
The Company has filed a request with the Court that will allow it to make timely payments to vendors in full under normal terms for goods and services delivered both before and after the filing. Cutera expects to receive approval for this request.
The Company’s entities located outside of the
Additional information about Cutera’s restructuring is available at https://cutera.com/strengtheningcutera. Court filings and other information regarding the case can be found at https://www.veritaglobal.net/cutera or by contacting Verita, the Company’s noticing and claims agent, at (888) 788-0109 (for toll-free
Advisors
Cutera is advised in this matter by Ropes & Gray LLP and Hunton Andrews Kurth LLP as legal counsel, Houlihan Lokey as investment banker, and FTI Consulting as financial advisor. The group of the Company’s lenders is advised in this matter by Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel and Centerview Partners as investment banker.
About Cutera, Inc.
Cutera is a leading provider of aesthetic and dermatology solutions for practitioners worldwide. For over 25 years, Cutera has strived to improve lives through medical aesthetic technologies that are driven by science and powered through partnerships. For more information, call 1-888-4-CUTERA or visit Cutera.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250305098533/en/
Cutera Media:
Rose Temple / Evelyn Bubb
CuteraComms@fticonsulting.com
Source: Cutera, Inc.