Ontario · CCAA
First Report of the Monitor Richter Inc.
Court officer report · 24 March 2025
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What we verified from this filing8 verified
- secured creditorsnote: Principal $23,581,493 + accrued interest $7,294,143 held by 95 investors · page: 37 · as of: 2025-03-10 · amount: 30875636 · debtor: Synaptive Medical Inc. · creditor: Subordinated Convertible Notes (95 investors) · currency: USD · security: Convertible note securities classified by the document as part of Synaptive's secured debt obligations; Priority 3 (subordinated) among the three convertible note classes
- secured creditorsnote: Total comprises $48,788,892 held by EDC (principal $40,000,000 + accrued interest $8,788,892) and $10,989,136 held by 47 other investors (principal $9,814,800 + accrued interest $1,174,336); EDC's portion is a related-party (senior secured lender/DIP Lender) holding · page: 37 · as of: 2025-03-10 · amount: 59778028 · debtor: Synaptive Medical Inc. · creditor: EDC Convertible Notes (held by EDC and 47 other investors) · currency: USD · security: Convertible note securities classified by the document as part of Synaptive's secured debt obligations; Priority 1 among the three convertible note classes
- secured creditorsnote: Total comprises $7,064,857 held by BDC (principal $5,000,000 + accrued interest $2,064,857) and $166,639 held by 4 other investors · page: 37 · as of: 2025-03-10 · amount: 7231496 · debtor: Synaptive Medical Inc. · creditor: BDC Convertible Notes (held by BDC and 4 other investors) · currency: USD · security: Convertible note securities classified by the document as part of Synaptive's secured debt obligations; Priority 2 among the three convertible note classes
- secured creditorsnote: EDC is Synaptive's senior secured lender and post-filing DIP Lender (related party in that capacity); guaranteed by Synaptive Medical USA, Inc. (Synaptive USA Guarantee) and secured by Synaptive USA IP Security Agreement; prose elsewhere approximates aggregate EDC obligations (Espresso Facility + EDC Convertible Notes) at approximately US$54.8 million as of the March 19, 2025 Filing Date · page: 37 · as of: 2025-03-10 · amount: 6020000 · debtor: Synaptive Medical Inc. · creditor: Export Development Canada (EDC) (as assignee of Espresso Capital Ltd. / Espresso Venture Debt LP) · currency: USD · security: Espresso Facility Agreement - security interest in all of Synaptive's personal property, including all intellectual property ("Espresso Security"); originally advanced by Espresso Capital Ltd./Espresso Venture Debt LP, assigned to EDC on 2023-08-30
- secured creditorsnote: Classified by the document within Synaptive's $104.1 million secured debt obligations; a further CAD-denominated balance of $127,166 is owed under the same facility (see separate entry) · page: 39 · as of: 2025-03-10 · amount: 50000 · debtor: Synaptive Medical Inc. · creditor: Royal Bank of Canada (RBC) · currency: USD · security: RBC credit card facility ("RBC CC Facility")
- secured creditorsnote: Classified by the document within Synaptive's $104.1 million secured debt obligations; a further USD-denominated balance of approximately US$50,000 is owed under the same facility (see separate entry) · page: 39 · as of: 2025-03-10 · amount: 127166 · debtor: Synaptive Medical Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: RBC credit card facility ("RBC CC Facility")
- sale advisorRoyal Bank of Canada
- sale outcometext: The Applicant intends to pursue a SISP to be run by the Monitor under the supervision of the Court · scope: whole_business · status: process_approved