ALX ONCOLOGY HOLDINGS INC (ALXO): debt financing — ALX Oncology amends loan agreement; extends draw period to June 30, 2024 and adds ASPEN-06 milestone

ALX ONCOLOGY HOLDINGS INC

Term A Loan draw period extended from Dec 31, 2023 to June 30, 2024.
Future Term A funding requires Phase 2 of ASPEN-06 in gastric cancer to be ongoing or have positive data.
Contingency fee of $600,000 payable to lenders if prepaid outside refinancing with Oxford and SVB.
Remaining undrawn Term A commitment reallocated to Term B and C after June 30, 2024.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ALX ONCOLOGY HOLDINGS INC incurred term loan.

Instrument: term loan
Event: incurrence

Exact text from the filing

The Third Amendment amends the Loan Agreement to, among other things, (i) extend the draw period for the Term A Loans from December 31, 2023 to June 30, 2024

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ALX ONCOLOGY HOLDINGS INC amended Third Amendment to Loan and Security Agreement with Oxford Finance LLC (effective 2023-12-22).

Action: amendment
Agreement: credit facility
Counterparty: Oxford Finance LLC
Effective: 2023-12-22

Exact text from the filing

On December 22, 2023, ALX Oncology Holdings Inc. (the “Company”) and its indirectly wholly-owned subsidiary, ALX Oncology Inc. (“Borrower”) entered into the Third Amendment to Loan and Security Agreement (the “Third Amendment”) by and among the Company as a guarantor, the Borrower, Oxford Finance LLC ("Oxford"), as collateral agent (“Agent”), and the lenders party thereto.

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Source: SEC EDGAR

accession 0000950170-23-073016

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