{"schema_version":"secwatch.filing_event.v1","accession":"0000886163-23-000075","form_type":"8-K","ticker":"LGND","cik":"0000886163","company_name":"LIGAND PHARMACEUTICALS INC","filed_at":"2023-10-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.258968+00:00","generated_at":"2026-06-09T22:15:56.147095+00:00","sec_items":["1.01","2.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Ligand Pharmaceuticals enters $75M revolving credit facility with Citibank","bullets":["$75M revolving credit facility with Citibank as administrative agent; currently undrawn.","Matures October 12, 2026; subject to leverage ratio covenant (max 2.50:1; 3.00:1 after acquisitions) and minimum EBITDA of $45M.","Interest rates based on SOFR plus 1.75%-2.50% or base rate plus 0.75%-1.50%, depending on leverage.","Facility secured by certain collateral and guaranteed by material domestic subsidiaries.","Proceeds for working capital and general corporate purposes; no outstanding balance as of filing."],"urls":{"canonical":"https://secwatch.observer/filing/0000886163-23-000075","json":"https://secwatch.observer/filing/0000886163-23-000075.json","markdown":"https://secwatch.observer/filing/0000886163-23-000075.md","text":"https://secwatch.observer/filing/0000886163-23-000075.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/886163/000088616323000075/0000886163-23-000075-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/886163/000088616323000075/lgnd-20231012.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T22:15:56.147095+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"90314623a93e17aee609a51238b5fd66875e49b7","claim":"LIGAND PHARMACEUTICALS INC entered into Credit Agreement with Citibank, N.A. as the Administrative Agent valued at $75 million (effective 2023-10-12).","evidence_excerpt":"On October 12, 2023, Ligand Pharmaceuticals Incorporated (the “Company”), entered into a $75 million revolving credit facility with Citibank, N.A. as the Administrative Agent.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616323000075/0000886163-23-000075-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Citibank, N.A. as the Administrative Agent"},{"label":"Value","value":"$75 million"},{"label":"Effective","value":"2023-10-12"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}