Rani Therapeutics Holdings, Inc. (RANI): debt financing — Rani Therapeutics draws $15M second tranche under $45M loan facility with Avenue Venture

Rani Therapeutics Holdings, Inc.

Completed $15M draw on Dec 29, 2022, as second tranche of $30M committed under Aug 8, 2022 Loan Agreement.
Total facility provides up to $45M in term loans; $15M was funded at closing, $15M now drawn.
Loan from Avenue Venture Opportunities Fund; terms previously filed and unchanged.

item 2.03

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Rani Therapeutics Holdings, Inc. incurred term loan of $15 million with Avenue Venture Opportunities Fund, L.P..

Instrument: term loan
Principal: $15 million
Counterparty: Avenue Venture Opportunities Fund, L.P.
Event: incurrence

Exact text from the filing

On December 29, 2022 (the “Borrowing Date”), Rani Therapeutics Holdings, Inc. (“Rani Holdings”) completed a draw down of $15 million under a Loan and Security Agreement and related Supplement dated August 8, 2022 (the “Loan Agreement”), by and among Rani Holdings, Rani Therapeutics, LLC and Rani Management Services, Inc., and Avenue Venture Opportunities Fund, L.P., a Delaware limited partnership.

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Rani Therapeutics Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-22-027117

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