Eyenovia terminates $25M SVB loan agreement with $8.028M payoff

HYPERION DEFI, INC.

Termination of Loan and Security Agreement with Silicon Valley Bank (SVB) dated May 7, 2021.
Company paid $8.028 million payoff amount, including $0.15 million prepayment fee.
Original SVB loan agreement provided for up to $25.0 million principal in multiple tranches.
Company remains bound by certain indemnification obligations under Section 11.3 of the agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HYPERION DEFI, INC. terminated Loan and Security Agreement (SVB Loan Agreement) with Silicon Valley Bank valued at Payoff amount of $8.028 million, including prepayment fee of $0.15 million (effective 2022-11-02).

Action: termination
Agreement: credit facility
Counterparty: Silicon Valley Bank
Value: Payoff amount of $8.028 million, including prepayment fee of $0.15 million
Effective: 2022-11-02

Exact text from the filing

On November 2, 2022, the Loan and Security Agreement, dated as of May 7, 2021 (the “SVB Loan Agreement”), by and between Eyenovia, Inc. (the “Company”) and Silicon Valley Bank (“SVB”), was terminated upon the receipt by SVB of a payoff amount of $8.028 million from the Company; provided that the Company continues to be bound by certain indemnification obligations under Section 11.3 of the SVB Loan Agreement.

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Source: SEC EDGAR

accession 0001104659-22-115448

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