Eloxx amends Hercules loan: no prepayment penalty, cash covenant cut to $2.25M, $7.5M repaid

Eloxx Pharmaceuticals, Inc.

Prepayment premium eliminated (was 1-3%); company may prepay anytime without fee.
Interest-only period extended to Sep 1, 2023 (from Apr 1, 2023); further extension conditional on $35M equity raise.
Minimum cash covenant reduced from $6.3M-$10M to $2.25M; drops to $0 if $20M raised by May 31, 2023.
Company repaid $7.5M of principal as condition, reducing outstanding Term Loan to $5.0M.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Eloxx Pharmaceuticals, Inc. amended First Amendment to the Loan and Security Agreement with Hercules Capital, Inc. and Hercules Capital IV, L.P. (effective 2022-03-07).

Action: amendment
Agreement: credit facility
Counterparty: Hercules Capital, Inc. and Hercules Capital IV, L.P.
Effective: 2022-03-07

Exact text from the filing

On March 7, 2022, Eloxx Pharmaceuticals, Inc. (the “Company”) entered into the First Amendment to the Loan and Security Agreement (the “Amendment”) by and among (i) Hercules Capital, Inc., a Maryland corporation (“Hercules”), in its capacity as administrative agent, collateral agent, and a lender, (ii) Hercules Capital IV, L.P., (together with Hercules, the “Lenders”), as a lender, (iii) the Company, as a borrower, (iv) Zikani Therapeutics, Inc., a Delaware corporation and wholly-owned subsidiary of the Company, as a borrower (together with the Company, the “Borrower”), and (v) Eloxx Pharmaceuticals Ltd., an Israeli company and wholly-owned subsidiary of the Company (together with the Lenders and the Borrower, the “Parties”), which amended certain terms of the Loan and Security Agreement, dated September 30, 20221, by and among the Parties (the “Loan Facility”).

View on SEC.gov

119 material agreements filed in the last 30 days. Browse all material agreements →

Eloxx Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-007032

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.