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 $50 million with Oxford Finance LLC.
- Instrument
- credit facility
- Principal
- $50 million
- Counterparty
- Oxford Finance LLC
- Event
- incurrence
Exact text from the filing
On June 28, 2023, Lexicon exercised its option to draw the third $50 million tranche under the Loan Agreement and the third tranche was funded on such date.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
LEXICON PHARMACEUTICALS, INC. amended Third Amendment to Loan and Security Agreement with Oxford Finance LLC valued at $50 million remains available for draw prior to June 30, 2023 and $25 million available between Dece (effective 2023-06-23).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Oxford Finance LLC
- Value
- $50 million remains available for draw prior to June 30, 2023 and $25 million available between Dece
- Effective
- 2023-06-23
Exact text from the filing
On June 23, 2023, Lexicon and one of its subsidiaries entered into a third amendment (the “ Third Amendment ”) to its loan and security agreement (the “ Loan Agreement ”) with Oxford Finance LLC (“ Oxford ”) bifurcating the third tranche under which $75 million was previously available for draw at Lexicon’s option prior to June 30, 2023. Under the terms of the Third Amendment, $50 million remains available for draw at Lexicon’s option prior to June 30, 2023 under the third tranche and $25 million will be available for draw at Lexicon’s option between December 1 and December 31, 2023 under a new fourth tranche.
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