secwatch.observer — SEC 8-K summary
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Issuer:     Eloxx Pharmaceuticals, Inc. (ELOX)
CIK:        0001035354
Form:       8-K
Filed at:   2021-10-05T23:59:59+00:00
Accession:  0001104659-21-122815
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Eloxx enters $30M loan agreement with Hercules; repays $6.7M prior loan
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- Term loans up to $30M: Tranche 1 $12.5M funded Sep 30, 2021; Tranche 2 $7.5M subject to clinical milestones (available until Aug 15, 2022); Tranche 3 $10M subject to lender discretion.
- Interest at greater of 9.50% or prime+6.25%; principal amortization begins April 2023, matures April 2025.
- Used $7.7M to prepay and terminate prior Silicon Valley Bank loan ($6.67M outstanding, plus prepayment premium and final charge).
- Loan secured by substantially all assets of Eloxx, Zikani Therapeutics (wholly owned), and Israeli subsidiary, excluding IP.
- Customary covenants limit additional debt, dividends, asset sales; prepayment premium of 3%–1% depending on timing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1035354/000110465921122815/0001104659-21-122815-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1035354/000110465921122815/tm2129268d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-122815

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