{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-051979","form_type":"8-K","ticker":null,"cik":"0001445499","company_name":"IMPEL PHARMACEUTICALS INC","filed_at":"2023-10-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:29.096947+00:00","generated_at":"2026-06-10T04:43:04.469030+00:00","sec_items":["1.01","2.03","3.01","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Impel Pharma enters amended credit deal, draws $2.5M, faces Nasdaq delisting risk","bullets":["Amended credit agreement waives defaults, permits additional $2.5M tranche B term loan draw; 75% funded Oct 2, remainder Oct 5.","Nasdaq warns of delisting as stock closed below $1 for 30 days; company has until March 26, 2024 to regain compliance.","Company required to use best efforts to raise ≥$5M equity by Oct 31, 2023; 50% of excess proceeds must repay tranche B loans.","Must appoint one independent director acceptable to lenders by Oct 16, 2023; director to serve on committees including restructuring.","Issued 445,293 warrants on Oct 2 and 148,431 warrants expected Oct 5 in connection with the term loan draw."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-051979","json":"https://secwatch.observer/filing/0000950170-23-051979.json","markdown":"https://secwatch.observer/filing/0000950170-23-051979.md","text":"https://secwatch.observer/filing/0000950170-23-051979.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1445499/000095017023051979/0000950170-23-051979-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1445499/000095017023051979/impl-20230928.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T04:43:04.469030+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b3221b832c2b8a5b9c3a482e1c1d4c05f9144e89","claim":"IMPEL PHARMACEUTICALS INC amended credit facility of $2,500,000 with Oaktree Fund Administration, LLC.","evidence_excerpt":"of the Company under the Original Agreement. Under the Amended Credit Agreement, terms of the tranche B term loans funding were modified, and the Company drew an additional $2,500,000 of tranche B term loans, at signing of the Amended Credit Agreement (of which 75% was funded on October 2, 2023 and 25% is expected to be funded by October 5, 2023). The Company","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1445499/000095017023051979/0000950170-23-051979-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$2,500,000"},{"label":"Counterparty","value":"Oaktree Fund Administration, LLC"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"ab952aec1d1adc776252d826584812fa5079339e","claim":"IMPEL PHARMACEUTICALS INC received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).","evidence_excerpt":"September 28, 2023, the Company received notice (the “Notice”) from the Listing Qualifications staff of the Nasdaq Stock Market LLC (“Nasdaq”) that, because the closing bid price for the Company’s common stock has fallen below $1.00 per share for 30 consecutive business days, the Company no longer complies with the minimum bid price requirement for continued listing on The Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1). The Notice has no immediate effect on the listing of the Company’s common stock on the Nasdaq Global Select Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), th","evidence_source":"SEC 8-K Item 3.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1445499/000095017023051979/0000950170-23-051979-index.htm","confidence":0.95,"family_label":"Listing & Compliance Notices","details":[{"label":"Exchange","value":"nasdaq"},{"label":"Notice","value":"deficiency notice"},{"label":"Deficiency","value":"minimum bid price"},{"label":"Rules","value":"5450(a)(1), 5810(c)(3)(A)"}],"fact_type":"exchange_compliance_notice"},{"claim_id":"016447e888c73bc27b0e57d93748d9383d631c79","claim":"IMPEL PHARMACEUTICALS INC amended Third Amendment to Credit Agreement and Guaranty with Oaktree Fund Administration, LLC as administrative agent valued at $2,500,000 (effective 2023-10-02).","evidence_excerpt":"On October 2, 2023, Impel Pharmaceuticals Inc. (the “Company”) entered into the Third Amendment to Credit Agreement and Guaranty (the “Amended Credit Agreement”) with Oaktree Fund Administration, LLC as administrative agent, and the existing lenders party thereto (collectively, the “Secured Parties”), which amends the Company’s Credit Agreement and Guaranty dated March 17, 2022, as amended on August 21, 2023 and September 5, 2023 (the “Original Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1445499/000095017023051979/0000950170-23-051979-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Oaktree Fund Administration, LLC as administrative agent"},{"label":"Value","value":"$2,500,000"},{"label":"Effective","value":"2023-10-02"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}