secwatch.observer — SEC 8-K summary
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Issuer:     ALX ONCOLOGY HOLDINGS INC (ALXO)
CIK:        0001810182
Form:       8-K
Filed at:   2022-10-31T23:59:59+00:00
Accession:  0000950170-22-020521
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ALX Oncology secures up to $100M non-dilutive loan facility with Oxford and SVB, extends cash runway to mid-2025
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- Initial draw of $10M from first $50M tranche; remaining $40M available through end of 2023.
- Up to $50M additional in three tranches: $12.5M each tied to milestones for evorpacept and preclinical candidate, $25M at lenders' discretion.
- Interest-only period of 36 months (extendable to 48); total term 59 months; no warrants or financial covenants.
- Matures October 2027; floating SOFR-based interest rate with minimum 8.58% per annum.
- Proceeds support evorpacept development and general working capital, extending cash runway to mid-2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810182/000095017022020521/0000950170-22-020521-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810182/000095017022020521/alxo-20221027.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-020521

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer