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Sonendo (SONX) has provided an announcement.
TDO Software, Inc., a subsidiary of Sonendo, Inc., has sold its endodontic practice management software assets to Valsoft Corporation Inc. and its affiliate for approximately $16 million, with the majority paid upfront and the rest due in a year. The deal includes the transfer of certain liabilities and the offer of employment to the software’s current employees under comparable terms. Additionally, Sonendo amended its credit agreement to include a $15 million repayment and adjusted repayment schedules and other terms. This strategic move aims to streamline Sonendo’s operations and financial structure.
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