Asensus Surgical, Inc. announced that it has entered into a secured promissory note with new lender, KARL STORZ SE & Co. KG for gross proceeds of $20,000,000 on April 3, 2024. The Note bears interest at a rate of SOFR plus 10%, compounded monthly on the outstanding principal, and accrues interest until paid.

Interest shall commence on the date of the first Advance hereunder and accrue monthly in arrears and shall continue accruing on the unpaid principal and accrued but unpaid interest amount until paid in full. All accrued interest shall be calculated on the basis of a 360 day year and actual days elapsed. All accrued interest shall compound and be added to the principal balance on the last day of each calendar month.