8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 28, 2024

SANUWAVE Health, Inc.

(Exact name of registrant as specified in its charter)

Nevada	000-52985	20-1176000
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

11495 Valley View Road, Eden Prairie, Minnesota	55344
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (770) 419-7525

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
N/A	N/A	N/A

Indicate by check mark whether the registration is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 28, 2024, Sanuwave Health, Inc. (the “Company”) terminated without cause its chief financial officer, Toni Rinow, effective immediately. In connection with her separation, Dr. Rinow and the Company entered into a Separation and Release Agreement, dated March 29, 2024 (the “Severance Agreement”), pursuant to which Dr. Rinow will receive one year’s annual base salary in the amount of $335,000, payable in equal installments through the Company’s regular payroll.

The foregoing description of the Severance Agreement does not purport to be complete and is qualified by reference to the full text of the Severance Agreement, which is filed hereto as Exhibit 10.1 and is incorporated herein by reference.

On April 1, 2024, the Company announced its appointment of Peter Sorensen as its new Chief Financial Officer and designated him the principal financial officer of the Company, effective on the same date.  In connection with his appointment, Mr. Sorensen entered into an Offer Letter, dated March 26, 2024 (the “Offer Letter”), with the Company, and upon his appointment as Chief Financial Officer, he began receiving the compensation described therein.

Mr. Sorensen, age 31, will join the Company from Endogenex, Inc., a medical device company developing a new approach to the treatment of type 2 diabetes, where he served as Vice President of Finance and Human Resources from September 2023 to March 2024, Controller from April 2021 to September 2023, and Assistant Controller from April 2019 to April 2021.

Mr. Sorensen has no family relationships with any executive officer or director of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Further, there are no arrangements or understandings between Mr. Sorensen and any other person pursuant to which he was selected to become the Chief Financial Officer of the Company.

Pursuant to the Offer Letter, Mr. Sorensen’s initial compensation will consist of the following:

• an initial annualized base salary of $225,000, payable in accordance with the Company’s normal payroll practices and procedures;

• eligibility to earn cash bonuses in accordance with the Company’s plans and practices adopted from time-to-time, including an annual cash bonus for 2024 of up to 40% of Mr. Sorensen’s base salary to be based on the Company’s and Mr. Sorensen’s achievement of certain objectives and conditioned upon Mr. Sorensen’s continued employment through the bonus payment date;

• subject to adoption of the Company’s 2024 equity incentive plan and approval by the Company’s board of directors, equity compensation in the form of stock options (the “Options”) to purchase 105,000 shares of the Company’s common stock, which one-third of the Options will vest over three years on each anniversary of the grant date and will be subject to standard acceleration provisions for vesting around a change of control or other similar events; and

• entitlement to participate in all employee benefit plans and programs to the extent that he meets the eligibility requirements for each individual plan or program.

In addition, the Offer Letter provides that in the event Mr. Sorensen’s employment with the Company is terminated without cause (as determined in accordance with the policies and practices of the Company), he will be eligible for a severance package equal to three months of his then-current base salary, conditioned upon the execution of a severance agreement and general release in a form provided by the Company, and payable in approximately equal installments over the three-month period following the termination of Mr. Sorensen’s employment and the expiration of any rescission periods applicable to such general release.

The foregoing description of the Offer Letter does not purport to be complete and is qualified by reference to the full text of the Offer Letter, which is filed hereto as Exhibit 10.2 and is incorporated herein by reference.

Item 7.01 Regulation FD Disclosure.

On April 1, 2024, the Company issued a press release announcing Mr. Sorensen’s appointment.  The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.  Consequently, it is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section.  Such materials may only be incorporated by reference into another filing under the Exchange Act or the Securities Act if such subsequent filing specifically references this Form 8-K.

The press release contains forward-looking statements regarding the Company and includes cautionary language identifying important factors that could cause actual results to differ materially from those anticipated.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
10.1	Separation and Release Agreement, dated March 29, 2024
10.2	Offer Letter of Peter Sorensen, dated March 26, 2024
99.1	Press Release, dated April 1, 2024
104	Cover Page Interactive Data File––the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SANUWAVE HEALTH, INC.
Dated: April 1, 2024	By:	/s/ Morgan C. Frank
	Name:	Morgan C. Frank
	Title:	Chief Executive Officer

EX-10.1

Exhibit 10.1

SEPARATION AND RELEASE AGREEMENT

Background

I.         I Toni Rinow was employed by SANUWAVE (as defined below) until my employment was terminated effective March 28, 2024 (my "Separation Date").

II.       SANUWAVE has offered to provide me certain Consideration (as defined below) subject to the terms and conditions of this Separation and Release Agreement ("Release").

III.      It is my desire to accept the Consideration offered by SANUWAVE in exchange for me agreeing to be bound by the terms of this Release and satisfying the terms and conditions identified in this Release, and to resolve all issues between me and SANUWAVE as set forth in this Release.

Agreements and Representations

Definitions. I intend all words used in this Release to have their plain meanings in ordinary English. Specific terms that I use in this Release have the following meanings:

A. I, me, and my means me Toni Rinow and anyone who has or obtains any legal rights or claims through me.

B. SANUWAVE means SANUWAVE Health, Inc., any entity related to SANUWAVE Health, Inc. in the present or past (including without limitation, its predecessors, parents, subsidiaries, members, affiliates, and divisions) and any successors of SANUWAVE Health, Inc.

C. Company means SANUWAVE; the present and past officers, directors, members, committees, equity holders (together with any officers, partners, managers members, employees, agents and affiliates of any such equity holder), and employees of SANUWAVE; any company providing employment or employee benefit services to SANUWAVE in the past or present; any company providing insurance to SANUWAVE in the present or past; the present and past employee benefit plans sponsored or maintained by SANUWAVE (other than multiemployer plans) and the present and past fiduciaries of such plans; the attorneys for SANUWAVE; and anyone who acted on behalf of SANUWAVE or on instructions from SANUWAVE.

D. Consideration means SANUWAVE providing me:

• A severance amount equal to $335,000 (52 weeks' separation pay), less applicable withholdings, payable in substantially equal installments based on my last rate of pay beginning on SANUWAVE's first regular payroll date that is at least five (5) days after the expiration of the rescission period;

E. My Claims means all of my rights that I now have to any relief of any kind from the Company, including without limitation:

1. all claims arising out of or relating to my employment with SANUWAVE or the termination of that employment;

2. all claims arising out of or relating to the statements, actions, or omissions of the Company;

3. all claims arising out of or relating to any agreements (whether express or implied) to which I and the Company are parties;

4. all claims for any alleged unlawful discrimination, harassment, retaliation or reprisal, or other alleged unlawful practices arising under any federal, state, or local statute, ordinance, or regulation, including without limitation, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act and the ADA Amendments Act, the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, the Rehabilitation Act of 1973, 42 U.S.C. § 1981, the Employee Retirement Income Security Act, the Family Medical Leave Act, the Lilly Ledbetter Fair Pay Act of 2009, the Worker Adjustment and Retraining Notification Act, the Fair Credit Reporting Act, the Genetic Information Nondiscrimination Act, the Minnesota Whistleblower Act, Minn. Stat. § 181.932; the Minnesota Human Rights Act, Minn. Stat. § 363A et seq.; any claims arising under or based upon Minn. Stat. Chapters 177 and 181; and workers' compensation non-interference or non-retaliation statutes (such as Minn. Stat. § 176.82);

5. all claims for alleged wrongful discharge; breach of contract; breach of implied contract; failure to keep any promise; breach of a covenant of good faith and fair dealing; breach of fiduciary duty; estoppel; defamation; infliction of emotional distress; fraud; misrepresentation; negligence; harassment; retaliation or reprisal; constructive discharge; assault; battery; false imprisonment; invasion of privacy; interference with contractual or business relationships; any other wrongful employment practices; and violation of any other principle of common law;

6. all claims for compensation of any kind, including without limitation, bonuses, commissions, equity awards or equity-based compensation in any form, vacation pay, paid sick or safety time, perquisites, and expense reimbursements;

7. all claims for back pay, front pay, reinstatement, other equitable relief, compensatory damages, damages for alleged personal injury, liquidated damages, and punitive damages;

8. all claims that a past unlawful decision has or has had a continuing effect on my compensation; and

9. all claims for attorneys' fees, costs, and interest.

However, My Claims do not include (i) any claims for unemployment benefits, (ii) any claims I have to any amounts under SANUWAVE's 401(k) plan, or (iii) any claims that the law does not allow to be waived.

Agreement to Release My Claims. Subject to the conditions outlined below, I will receive the Consideration from SANUWAVE if I sign and do not rescind this Release as provided below. I understand and acknowledge that this Consideration is in addition to anything of value that I would be entitled to receive from SANUWAVE if I did not sign this Release or if I rescinded this Release. In exchange for that Consideration I give up and release all of My Claims. I will not make any demands or claims against the Company for compensation or damages relating to My Claims. The Consideration that I am receiving is a fair compromise for the release of My Claims. Furthermore, I understand and agree that, with the exception of money provided to me by a governmental agency as an award for providing information, I am not entitled to receive any money or other relief in connection with My Claims, regardless of who initiated or filed the charge or other proceeding.

Acknowledgment of Compensation. SANUWAVE will provide me my regularly base compensation through the Separation Date, and any other compensation that is earned but unpaid as of the Separation Date. I represent and confirm that I have been fully paid for all wages, overtime, commissions, bonuses, and other compensation that I have earned through my employment with SANUWAVE through the date of this Release.

No Other Rights To Compensation. I understand and acknowledge that, except as provided in this Release, and subject to the terms and conditions of this Release, the Company is not obligated to make any payments to me of any kind and does not have any other outstanding obligations to me under any agreement or arrangement between me and the Company or under any Company plan or policy.

Additional Agreements and Understandings. Even though SANUWAVE will provide Consideration for me to settle and release My Claims, the Company does not admit that it is responsible or legally obligated to me. In fact, the Company denies that it is responsible or legally obligated to me for My Claims, denies that it engaged in any unlawful or improper conduct toward me, and denies that it treated me unfairly.

Confidentiality. To the fullest extent permitted by law, I agree that the terms of this Release are confidential and that I may not disclose those terms to any person except: (a) as part of any legal or administrative agency proceeding; or (b) to my attorneys, spouse and tax advisors, provided they agree to keep the terms of this Release confidential.

Non-Disclosure of Confidential Information. Except as permitted above with respect to limited disclosure of the terms of this Release to certain individuals, I will not use or disclose any Confidential Information (as defmed in the Non-Compete and Confidentiality Agreement ("NCC")) to any person at any time unless I have the advance written consent of SANUWAVE's Chief Executive Officer. My prohibited use or disclosure of Confidential Information will not apply if I can establish that the Confidential Information has become publicly available and easily ascertainable through no wrongful act or omission by me. I acknowledge the Consideration for which I am eligible under this Release is conditioned upon me complying with the NCC, including my obligation to return all company information upon the separation of my employment. I further confirm that I had access to Confidential Information and other highly sensitive and personal information regarding SANUWAVE and its employees during my employment. I will not use such information to assist, encourage, or otherwise aid any person in filing or asserting any claims against SANUWAVE.

Non-Disparagement. I agree that I will not make any false, disparaging, derogatory or offensive statements to anyone about the Company or about any of the Company's products or services.

No Unlawful Restriction. I understand and agree that nothing in this Release, including the Confidentiality and Non-Disclosure of Confidential Information provisions above, is intended to or will: (a) impose any condition, penalty, or other limitation on my rights to challenge this Release; (b) constitute an unlawful release of my rights; (c) prevent me from exercising any rights I have under Section 7 of the National Labor Relations Act; or (d) prevent or interfere with my ability or right to provide truthful testimony if under subpoena to do so, to file any charge with or participate in any investigation or proceeding before the U.S. Equal Employment Opportunity Commission or any other federal, state or local governmental agency, or to respond to a subpoena, court order or as otherwise provided by law.

Response to Reference Requests. I agree to direct any reference requests related to my employment with SANUWAVE to SANUWAVE's CEO or President.

Cooperation. In partial consideration for the Consideration being paid to me under this Release, to the fullest extent permitted by law, I agree to cooperate with the Company's reasonable requests, subject to my own availability, in: (a) providing information; (b) resolving questions; or (c) transitioning any responsibilities of information, pertaining to any matters which arose during my employment by SANUWAVE about which I have or may have knowledge of the underlying facts or for which I had responsibility during my employment with SANUWAVE.

Return Of Property. I represent that I have delivered to SANUWAVE all SANUWAVE property that was previously in my possession or under my control, including without limitation any computers, cellular telephones, credit cards, keys, records, files, documents, data, computer disks and other computer storage media.

Advice to Consult with an Attorney. I understand and acknowledge that I am hereby being advised by the Company to consult with an attorney prior to signing this Release. My decision whether to sign this Release is my own voluntary decision made with full knowledge that the Company has advised me to consult with an attorney.

Period to Consider the Release. I understand that I have twenty-one (21) days after the day I receive this Release or my Separation Date, whichever is later, to consider whether I wish to sign this Release. I may not sign this Release before my Separation Date. If I sign this Release before the end of the 21-day consideration period, it will be my voluntary decision to do so because I have decided that I do not need any additional time to decide whether to sign this Release. I also agree that any changes made to this Release before I sign it, whether material or immaterial, will not restart the 21-day consideration period.

My Right to Rescind this Release. I understand that I may rescind this Release at any time within fifteen (15) days after I sign it, not counting the day upon which I sign it. This Release will not become effective or enforceable unless and until the 15-day rescission period has expired without my rescinding it.

Procedure for Accepting or Rescinding the Release. To accept the terms of this Release, I must deliver this Release, after I have signed and dated it, to SANUWAVE by email or by mail within the 21-day period that I have to consider this Release. To rescind my acceptance, I must deliver a written, signed statement that I rescind my acceptance to SANUWAVE by email or by mail within the 15-day rescission period. All deliveries must be made to SANUWAVE at the following address:

SANUWAVE

Attn: Andrew Walko

11495 Valley View Road

Eden Prairie, MN 55344-3617

Andrew.Walko(@sanuwave.com

If I choose to deliver my acceptance or the rescission of my acceptance by mail, it must be (1) postmarked within the period stated above; and (2) properly addressed to SANUWAVE at the address stated above.

Entire Agreement. This Release constitutes the entire agreement between me and SANUWAVE with respect to the subject matter of this Release, including the termination of my employment with SANUWAVE, and I agree that there were no inducements or representations leading to the execution of this Release except as stated in this Release. For avoidance of doubt, this Release does not modify or supersede any of the terms of the NCC, which will remain in full force and effect in accordance with the terms of the NCC.

Amendment.  This Release may be amended only by a writing that is signed by me and an authorized representative of SANUWAVE.

Waiver. No term or condition of this Release shall be deemed to have been waived except by a statement in writing signed by the party against whom the enforcement of the waiver is sought.

The waiver by SANUWAVE of the breach or nonperformance of any provision of this Release by me will not operate or be construed as a waiver of any future breach or nonperformance under any such provision of this Release.

Governing Law and Jurisdiction. This Release shall be governed by and interpreted in accordance with the laws of the State of Minnesota, without regard to conflicts of law provisions. Minnesota state or federal courts will have personal and subject-matter jurisdiction over any litigation arising out of or relating to this Release. Any action involving claims for interpretation, breach or enforcement of this Release shall be brought in such courts. I consent to personal jurisdiction over me in the state and/or federal courts of Minnesota and hereby waive any defense of lack of personal jurisdiction or inconvenient forum.

Severability. In case any one or more of the provisions of this Release is determined invalid, illegal, or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained in this Release will not in any way be affected or impaired thereby.

Heirs, Successors, and Assigns. This Release shall be binding upon me and my heirs, administrators, representatives, or executors, and upon SANUWAVE's successors or assigns. No assignment of this Release may be made by me, and any such purported assignment shall be null and void. SANUWAVE may assign its rights or obligations under this Release to any successor or assign of SANUWAVE without further consent by me.

Interpretation of the Release. This Release should be interpreted as broadly as possible to achieve my intention to resolve all of My Claims against the Company. If this Release is held by a court to be inadequate to release a particular claim encompassed within My Claims, this Release will remain in full force and effect with respect to all the rest of My Claims.

My Representations. I am legally able and entitled to receive the Consideration being provided to me in settlement of My Claims. I have not been involved in any personal bankruptcy or other insolvency proceedings at any time since I began my employment with SANUWAVE. No child support orders, garnishment orders, or other orders requiring that money owed to me by SANUWAVE be paid to any other person are now in effect.

I acknowledge and agree that I have received all leave, leaves of absence, and leave benefits and protections for which I am eligible, and have not suffered any on-the-job injury for which you have not already notified the Company.

I have read this Release carefully. I understand all of its terms. In signing this Release, I have not relied on any statements or explanations made by the Company except as specifically set forth in this Release. I am voluntarily releasing My Claims against the Company. I intend this Release to be legally binding.

Dated:	March 29, 2024	/s/ Toni Rinow
		Toni Rinow

EX-10.2

Exhibit 10.2

26 March, 2024

Peter Sorensen

17105 Hampton Ct Minnetonka, MN 55345

Petersorensen3@gmail.com

Dear Peter:

SANUWAVE, Inc. (the “Company”) is pleased to extend to you this conditional offer of employment as Chief Financial Officer reporting directly to Morgan Frank, CEO. Your position will be located at 11495 Valley View Rd Eden Prairie, MN 55344. We anticipate your start date will be on or around April 1, 2024 subject to final determination depending upon the filing of the Sanuwave form 10-K with the SEC.

Compensation. Your initial base annual salary will be $225,000, less withholdings, and payable in accordance with the Company’s normal payroll practices and procedures. This position is full-time, exempt, and is not eligible for overtime. This salary may be adjusted from time to time in the Company’s sole discretion.

Bonus. You will be eligible for an annual bonus in accordance with the Company’s plans and practices as adopted from time-to-time. For 2024, you shall be eligible for an annual bonus, up to 40% of your base compensation based on the Company’s and your achievement of certain objectives, payable in accordance with the Company’s bonus plan for 2024 and conditioned upon your employment through the bonus payment date. You may be eligible for bonus compensation in subsequent years according to the terms and conditions of any applicable bonus plan(s) that may be adopted by the Company from time to time.

Equity Compensation. Subject to the approval of the Board of Directors and the adoption of the Company’s equity incentive plan, the Company will recommend the Employee receive an employee equity options grant to purchase 105,000 shares (~1% of current shares outstanding) struck at market price in the quarter in which employment commences, and subject to conditional vesting on a schedule of 1/3, 1/3, 1/3 of the total amount at 12, 24, and 36 months from the grant respectively (the “Options”). The Options will be subject to standard acceleration provisions to provide for vesting around a change of control or other similar events. All option grants will be subject to the terms of the individual award agreement and the terms of the Company’s Equity Incentive Plan as adopted in 2024.

Severance Entitlements. In the event your employment with the Company is terminated without Cause (as determined in accordance with the policies and practices of the Company), you will be eligible for a severance package equal to three months of your then-current base salary, less applicable withholdings, conditioned upon you executing and not rescinding a Severance Agreement and General Release in a form provided by the Company, and payable in approximately equal installments over the 3 month period following the termination of your employment and the expiration of any rescission periods applicable to the General Release.

Benefits. You will be eligible for benefits sponsored by the Company from time-to-time, subject to the eligibility and other provisions of the applicable benefit plans or programs. You will be eligible to accrue and use vacation time in accordance with the Company’s policies in place from time-to-time.

Offer Contingencies. This employment offer is contingent upon the following:

• Signing the Company's Employee Handbook, Insider Trading Policy, form I-9, and Non-Compete and Confidentiality Agreement (the “Agreements”)

• Successful completion of, and satisfactory results from, a background investigation, consistent with applicable law

• Confirmation that you are not subject to any legal restrictions on your employment activities (see below)

• Accepting this offer in writing no later than March 26, 2024.

This offer will be withdrawn (whether or not you have already signed it) if any of the above conditions are not satisfied.

Guidelines for Employment. If you accept this offer and become an employee of the Company, you will be subject to our employment policies and practices, including without limitation, the Company’s right to inspect and access your Company equipment and work product, with or without notice. In addition, the Company reserves the right to modify the compensation or benefits arrangements described in this letter or otherwise maintained by the Company, and also reserves the right to modify your position or duties to meet business needs and to use its discretion in deciding on appropriate discipline.

The Company is an at-will employer. At-will means that an employee may resign at any time with or without advance notice to the Company and with or without cause. Likewise, the Company may terminate an employee at any time with or without advance notice and with or without cause.

Restrictions on Employment. By signing below, you confirm that you do not have any type of written or oral non-solicitation or non-competition agreement or any other agreement, which would prevent you from accepting or performing services for the Company. You agree that you will not use or disclose confidential information obtained from previous employers during your employment with the Company, unless the information is publicly known or your previous employers have represented to you that you are entitled to use or disclose the information.

Acceptance. This offer will remain open until March 26, 2024. To indicate your acceptance of the Company's offer on the terms and conditions set forth in this letter, please sign and date this letter in the space provided below and return it to me no later than that date. Upon receipt of your signed acceptance of this offer letter, the Company will contact you to begin your onboarding processes.

In addition, on your first day of employment, please be sure to bring your documentation or an acceptable receipt for a document establishing your identity and eligibility for employment in the U.S. as required by the Immigration Reform and Control Act of 1986. If you are unable to provide such verification within three business days of the date your employment begins, your employment may be terminated.

This letter and the Agreements constitute the entire agreement and understanding related to your offer of employment and supersedes any and all other agreements, either oral or in writing, between the Company and you related to your offer of employment. This letter will be governed by and construed in accordance with the laws of the State of Minnesota.

We look forward to your contributions and engagement as a valued member of our team. If you have any questions, please feel free to contact me.

Sincerely,

Morgan Frank

CEO

By signing below, I acknowledge that I have been furnished with a copy of this conditional offer of employment and that I understand and agree to the terms set forth above. I understand that I will be an at-will employee and that nothing in this document is intended to create a contract of employment or alter the at-will nature of my employment.

Acknowledgement and Acceptance of Terms:

/s/ Peter Sorensen	3/26/2024
Candidate	Date

EX-99.1

Exhibit 99.1

SANUWAVE Health Appoints Industry Veteran Peter Sorensen as Chief Financial Officer

SANUWAVE Health, Inc.

April 1, 2024

Sorensen brings strong finance, forecasting, analysis, and capital markets experience as well as abilities in software, process automation, and human resources to Sanuwave.

EDEN PRAIRIE, MN, April 1, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – SANUWAVE Health, Inc. (the "Company" or "SANUWAVE”) (OTCQB:SNWV), a leading provider of next-generation FDA-approved wound care products, is pleased to announce the hiring of Peter Sorensen as its new CFO. 

Sorensen brings deep experience in finance, forecasting, analysis, and capital markets experience as well as abilities in software, process automation, and human resources from his prior roles heading the finance and HR teams at Endogenex, Inc. (“Endogenex”), a medical device company developing a new approach to the treatment of type 2 diabetes.  Prior to working with Endogenex, Sorensen did financial planning and analysis (“FP&A”) for the Caisson Interventional and Heart Failure divisions of LivaNova PLC and did FP&A and software consulting for eCapital Advisors, a management consulting firm specializing in technology implementations to support data driven decision making.  He earned his BA in business administration from Bethel University and an MBA from the Herberger Business School at St. Cloud State University in Minnesota.

“We are pleased to welcome Peter to SANUWAVE at this pivotal time in our growth plans,” said CEO Morgan Frank.  “His experience, energy, and attitude are going to be a strong addition to our team and provide us with the skills and talent we need to take the next steps forward in driving Sanuwave’s wound care business as we seek to upgrade our internal systems and reporting to keep pace with and enhance our growth and our customer responsiveness.”

“I am thrilled to be joining Sanuwave during this exciting phase of growth and transformation. Sanuwave’s trajectory is truly remarkable and I am eager to contribute my expertise to drive financial success and support the team’s realization of their innovative vision to deliver cutting edge wound care solutions that positively impact patients’ lives worldwide,” said Sorensen.

Sorensen begins work at SANUWAVE on April 1, 2024.

About SANUWAVE

SANUWAVE Health is focused on the research, development, and commercialization of its patented, non-invasive and biological response-activating medical systems for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures.

SANUWAVE’s end-to-end wound care portfolio of regenerative medicine products and product candidates help restore the body’s normal healing processes. SANUWAVE applies and researches its patented energy transfer technologies in wound healing, orthopedic/spine, aesthetic/cosmetic, and cardiac/endovascular conditions.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future financial results, production expectations and constraints, plans for future business development activities and the Company’s business combination with SEP Acquisition Corp. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with the regulatory approval and marketing of the Company’s  products, supply chain and production constraints, regulatory oversight, the Company’s ability to manage its capital resource issues, competition, the Company’s ability to achieve the executed benefits of the business combination with SEP Acquisition Corp. and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.

Contact: investors@sanuwave.com

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Document and Entity Information	Mar. 28, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Mar. 28, 2024
Entity File Number	000-52985
Entity Registrant Name	SANUWAVE Health, Inc.
Entity Central Index Key	0001417663
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	20-1176000
Entity Address, Address Line One	11495 Valley View Road
Entity Address, City or Town	Eden Prairie
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55344
City Area Code	770
Local Phone Number	419-7525
Entity Emerging Growth Company	false
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false