KALA BIO, Inc. (KALA): debt financing — FDA accepts IND for KPI-012; Kala raises $25M, applies to transfer to Nasdaq Capital Market
KALA BIO, Inc.
FDA accepted IND for lead candidate KPI-012 for PCED; Phase 2b trial to start Q1 2023, topline data expected Q1 2024.
Second closing of private placement yielded $25M gross proceeds from sale of 43,478 preferred shares at $575 each.
Company expects existing cash, including private placement proceeds, to fund operations for ~24 months.
Entered loan amendment with Oxford Finance requiring $5M prepayments by June 2023 and Jan 2024, and allows Nasdaq transfer.
Applied to transfer listing from Nasdaq Global Select to Capital Market due to non-compliance with minimum market value requirements; believes it now meets Capital Market standards.
KALA BIO, Inc. amended term loan with Oxford Finance LLC.
Instrument
term loan
Counterparty
Oxford Finance LLC
Event
amendment
Exact text from the filing
Pursuant to the Loan Amendment, the Company agreed (A) to make partial prepayments of the principal amount of the term loan outstanding under the Loan Agreement as follows (the “Prepayments”): (1) a payment of $5,000,000 on or before June 30, 2023, representing a partial prepayment of principal in the amount of $4,672,897.20, plus a final payment fee of $327,102.80 and (2) a payment of $5,000,000 on or before January 31, 2024, representing a partial prepayment of principal in the amount of $4,672,897.20, plus a final payment fee of 327,102.80 and (B) the start date for the Company to make amortization payments under the Loan Agreement shall be changed from January 1, 2026 to January 1, 2025 (the “Amortization Date”).
Material AgreementsSEC 8-K Item 1.01/1.02confidence 0.95
KALA BIO, Inc. amended Loan Amendment with Oxford Finance LLC (effective 2022-12-27).
Action
amendment
Agreement
credit facility
Counterparty
Oxford Finance LLC
Effective
2022-12-27
Exact text from the filing
On December 27, 2022, Kala Pharmaceuticals, Inc. (the “Company”) and Combangio, Inc., a wholly-owned subsidiary of the Company, entered into an amendment (the “Loan Amendment”) with Oxford Finance LLC to the Loan and Security Agreement, dated May 4, 2021 (as amended, the “Loan Agreement”), by and among the Company, Combangio, Inc. and Oxford Finance LLC, in its capacity as lender (in such capacity, the “Lender”), and in its capacity as collateral agent (in such capacity, the “Agent”).
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.