LEXICON PHARMACEUTICALS, INC. (LXRX): debt financing — Lexicon draws $25M tranche under Oxford loan, issues warrant for 224,128 shares

LEXICON PHARMACEUTICALS, INC.

Exercised option to draw second $25M tranche from Oxford Finance on Dec 30, 2022.
Oxford received a warrant to purchase 224,128 shares at $1.95 per share, exercisable for 5 years.
Warrant and underlying common stock issued in reliance on Section 4(2) exemption from registration.
Proceeds from the tranche will support Lexicon's operations and development programs.

item 2.03 item 3.02

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

LEXICON PHARMACEUTICALS, INC. incurred credit facility of $25 million with Oxford Finance LLC.

Instrument: credit facility
Principal: $25 million
Counterparty: Oxford Finance LLC
Event: incurrence

Exact text from the filing

On December 30, 2022, we exercised our option to draw the second $25 million tranche under our loan and security agreement with Oxford Finance LLC (“Oxford”) and the second tranche was funded on such date .

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Source: SEC EDGAR

accession 0001062822-23-000002

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