---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-007032"
form_type: "8-K"
ticker: "ELOX"
cik: "0001035354"
company_name: "Eloxx Pharmaceuticals, Inc."
filed_at: "2023-03-09T23:59:59+00:00"
generated_at: "2026-06-18T06:17:21.357871+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-007032
- form_type: 8-K
- ticker: ELOX
- cik: 0001035354
- company_name: Eloxx Pharmaceuticals, Inc.
- filed_at: 2023-03-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1035354/000095017023007032/0000950170-23-007032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1035354/000095017023007032/elox-20230307.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-007032
- JSON: https://secwatch.observer/filing/0000950170-23-007032.json
- Plain text: https://secwatch.observer/filing/0000950170-23-007032.txt

## Key facts
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035354/000095017023007032/0000950170-23-007032-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.