{"schema_version":"secwatch.filing_event.v1","accession":"0001062822-23-000028","form_type":"8-K","ticker":"LXRX","cik":"0001062822","company_name":"LEXICON PHARMACEUTICALS, INC.","filed_at":"2023-06-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.820022+00:00","generated_at":"2026-06-13T15:19:00.869939+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Lexicon amends Oxford loan, draws $50M; $25M tranche available Dec 2023 with better terms","bullets":["Amended Oxford loan: $75M draw split; $50M drawn June 28, $25M available Dec 2023.","Interest rate index switches from 30-day LIBOR to 1-month CME Term SOFR; spread cut from 7.90% to 7.00% for third/fourth tranches.","On $50M draw, Lexicon issued Oxford a warrant for 183,824 shares at $2.38/share (5-year term).","Fourth tranche ($25M) available for draw Dec 1-31, 2023; requires FDA approval of sotagliflozin (already acknowledged).","Minimum cash covenant and unused fee only apply if fourth tranche is drawn or not fully drawn, respectively."],"urls":{"canonical":"https://secwatch.observer/filing/0001062822-23-000028","json":"https://secwatch.observer/filing/0001062822-23-000028.json","markdown":"https://secwatch.observer/filing/0001062822-23-000028.md","text":"https://secwatch.observer/filing/0001062822-23-000028.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1062822/000106282223000028/0001062822-23-000028-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1062822/000106282223000028/lxrx-20230623.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T15:19:00.869939+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":"f70e660b5d167ce0b95ab479eb7038ecdc821195","claim":"LEXICON PHARMACEUTICALS, INC. incurred credit facility of $50 million with Oxford Finance LLC.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1062822/000106282223000028/0001062822-23-000028-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$50 million"},{"label":"Counterparty","value":"Oxford Finance LLC"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"fa280235e6edb19e73e4bc759b40fb092b8b7303","claim":"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).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1062822/000106282223000028/0001062822-23-000028-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Oxford Finance LLC"},{"label":"Value","value":"$50 million remains available for draw prior to June 30, 2023 and $25 million available between Dece"},{"label":"Effective","value":"2023-06-23"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}