secwatch.observer — SEC 8-K summary
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Issuer:     Cytosorbents Corp (CTSO)
CIK:        0001175151
Form:       8-K
Filed at:   2022-12-29T23:59:59+00:00
Accession:  0001104659-22-130966
Event type: debt
Sentiment:  positive
Materiality: 0.45
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CytoSorbents draws $5M debt from Bridge Bank, extends $10M drawdown to March 2023
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- Received $5M non-dilutive term loan; no financial covenants on initial tranche.
- Drawdown period for remaining $10M extended from Dec 31, 2022 to March 1, 2023.
- Loan at Index Rate +1.25% (min 3.25%), capped at 8%; interest-only until Jan 2024, principal+interest to Dec 2025.
- Funds to support U.S. STAR-T pivotal trial for DrugSorb-ATR™, commercial growth, and cost control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175151/000110465922130966/0001104659-22-130966-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175151/000110465922130966/tm2233609d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-130966

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