---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-016300"
form_type: "8-K"
ticker: "KYNB"
cik: "0000921299"
company_name: "KYNTRA BIO, INC."
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T05:57:21.636104+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FibroGen enters $75M senior secured term loan with Morgan Stanley Tactical Value; up to $150M total

## Summary
- Initial $75M term loan funded by May 8, 2023; additional $37.5M milestone-based loan and $37.5M discretionary loan available.
- Interest rate 14.0% per annum payable monthly; maturity May 8, 2026; no amortization payments.
- Minimum $30M unrestricted cash and cash equivalents covenant tested monthly.
- Loans secured by substantially all assets; guarantees from subsidiaries excluding Chinese subsidiary.
- Prepayment requires make-whole amount including remaining scheduled interest to maturity.

## SEC filing metadata
- accession: 0000950170-23-016300
- form_type: 8-K
- ticker: KYNB
- cik: 0000921299
- company_name: KYNTRA BIO, INC.
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/921299/000095017023016300/0000950170-23-016300-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/921299/000095017023016300/fgen-20230429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-016300
- JSON: https://secwatch.observer/filing/0000950170-23-016300.json
- Plain text: https://secwatch.observer/filing/0000950170-23-016300.txt

## Key facts
- Material Agreements
  KYNTRA BIO, INC. entered into Financing Agreement with investment funds managed by Morgan Stanley Tactical Value valued at $75,000,000 initial term loan, $37,500,000 delayed draw term loan (effective 2023-04-29).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: investment funds managed by Morgan Stanley Tactical Value
  - Value: $75,000,000 initial term loan, $37,500,000 delayed draw term loan
  - Effective: 2023-04-29
  source text: On April 29, 2023 (the “ Signing Date ”), FibroGen, Inc. (the “ Company ”) entered into a financing agreement (“ Financing Agreement ”) with investment funds managed by Morgan Stanley Tactical Value, as lenders (the “ Lenders ”), and Wilmington Trust, National Association, as the administrative agent (the “ Administrative Agent ”), providing for senior secured term loan facilities consisting of (i) a $75,000,000 initial term loan (the “ Initial Term Loan ”), (ii) a $37,500,000 delayed draw term loan that will be funded upon the achievement of certain clinical development milestones (“ Delayed Draw Term Loan 1 ”) and, (iii) an uncommitted delayed draw term loan of up to $37,500,000, to be funded at the Lenders sole discretion, (“ Delayed Draw Term Loan 2 ” and, together with the Initial Term Loan and Delayed Draw Term Loan 1, the “ Term Loans ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/921299/000095017023016300/0000950170-23-016300-index.htm

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