Recent Updates — SLSN
Solésence, Inc. entered into fourth amendments to its Term Loan Agreement, Amended and Restated Business Loan Agreement, and Revolving Loan Agreement with Strandler, LLC and Beachcorp, LLC, both affiliates of controlling shareholder Bradford T. Whitmore. The amendments extend the maturity date for each respective loan from April 30, 2027, to May 31, 2028. This refinancing provides additional time to repay debt obligations owed to related parties without altering other stated terms in this summary. Solésence, Inc. operates in the dietary supplement industry, manufacturing and distributing health products.
On September 29, 2026, Solésence, Inc. received a written notice from Nasdaq indicating non-compliance with the $1.00 Minimum Bid Price requirement due to its closing bid price falling below that threshold for 30 consecutive trading days. The company has an initial compliance period of 180 calendar days, ending March 29, 2027, to regain compliance by maintaining a closing bid price of at least $1.00 per share for ten consecutive trading days. Failure to meet this requirement may result in delisting from the Nasdaq Capital Market, which would materially and adversely affect the company's ability to raise capital. Solésence, Inc. operates in the dietary supplement industry.
Solésence reported second-quarter 2026 revenue of $15.3 million, down from $20.4 million in the prior year period which benefited from a one-time product launch. The company posted a net loss of $158,000 compared to net income of $3.2 million previously, with adjusted EBITDA declining to $523,000 from $3.7 million. Management attributed the decline to lower revenue and non-recurring items in 2025, while noting shipped and on-hand orders totaled $64.9 million for 2026. The filing also disclosed a restatement related to historical inventory costing allocation methodologies identified during the quarter-end review. Solésence operates in the beauty and life science sectors, providing scientifically driven health care solutions and mineral-based sun protection technologies.
Solésence, Inc. through its subsidiary Solésence, LLC, entered into a Settlement Agreement and Release with Refy Beauty Ltd on July 6, 2026, to resolve disputes regarding consumer care products. The company will pay Refy Beauty Ltd the equivalent of $938,000 in twelve equal monthly installments of $78,166.66, with the first installment due August 5, 2026. The agreement also includes a six-month exclusivity period for new SPF product development and potential future supply agreement negotiations. Solésence, Inc. operates in the consumer care and beauty products industry.