Adicet Bio amends credit agreement with Pacific Western Bank, adjusting deposit and investment covenants.

Adicet Bio, Inc.

Amendment to Loan and Security Agreement dated May 30, 2023 with Pacific Western Bank.
Company must maintain lesser of $35M or all combined balances in PacWest deposit/MM/insured cash sweep accounts.
If below $35M at PacWest, can hold up to $2.5M in outside accounts subject to control agreement, plus $250K in foreign accounts.
Guarantor reaffirmed prior guaranty and security interest in substantially all assets except IP.

item 1.01 item 9.01

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

Adicet Bio, Inc. amended Sixth Amendment with Pacific Western Bank (effective 2023-05-30).

Action: amendment
Agreement: credit facility
Counterparty: Pacific Western Bank
Effective: 2023-05-30

Exact text from the filing

and Pacific Western Bank (“PacWest”) entered into a Sixth Amendment (the “Amendment”) to that certain Loan and Security Agreement, dated April 28, 2020

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Adicet Bio, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-026406

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