---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-029599"
form_type: "8-K"
ticker: "SCYX"
cik: "0001178253"
company_name: "SCYNEXIS INC"
filed_at: "2023-06-23T23:59:59+00:00"
generated_at: "2026-06-13T17:38:50.583874+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# SCYNEXIS terminates $35M loan with Hercules/SVB after GSK deal; receives $25M milestone; clarifies equity vote

## Summary
- Terminated $35M Loan and Security Agreement with Hercules Capital and SVB on May 25, 2023, after receiving upfront payment from GSK license.
- Announced $25M performance milestone from GSK on June 21, 2023, for Phase 3 MARIO study of ibrexafungerp.
- Due to proxy statement ambiguity on broker non-votes, SCYNEXIS deemed 2023 Equity Incentive Plan vote not approved; will use 2014 plan and reintroduce in 2024.

## SEC filing metadata
- accession: 0000950170-23-029599
- form_type: 8-K
- ticker: SCYX
- cik: 0001178253
- company_name: SCYNEXIS INC
- filed_at: 2023-06-23T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1178253/000095017023029599/0000950170-23-029599-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1178253/000095017023029599/scyx-20230525.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-029599
- JSON: https://secwatch.observer/filing/0000950170-23-029599.json
- Plain text: https://secwatch.observer/filing/0000950170-23-029599.txt

## Key facts
- Material Agreements
  SCYNEXIS INC terminated Loan and Security Agreement with Hercules Capital, Inc. and Silicon Valley Bridge Bank, N.A. valued at $35 million (effective 2023-05-25).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Hercules Capital, Inc. and Silicon Valley Bridge Bank, N.A.
  - Value: $35 million
  - Effective: 2023-05-25
  source text: Item 1.02 Termination of a Material Definitive Agreement. SCYNEXIS, Hercules Capital, Inc. (“Hercules Capital”) and Silicon Valley Bridge Bank, N.A. (“SVB”) were party to a Loan and Security Agreement dated as of May 13, 2021 (the “Loan Agreement”), pursuant to which Hercules Capital, SVB and each of the other lenders from time-to-time party to the Loan and Security Agreement (collectively, the “Lenders”) loaned to SCYNEXIS $35 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1178253/000095017023029599/0000950170-23-029599-index.htm

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