Liquidia terminates SVB loan with $22.4M payoff; closes initial $32.5M of $100M revenue interest financing

Liquidia Corp

On Jan 27, 2023, Liquidia terminated its Amended and Restated Loan and Security Agreement with Silicon Valley Bank.
Payoff amount of $22,356,635 paid to SVB, including a $1.0 million prepayment fee; all liens released.
Termination occurred in connection with the Revenue Interest Financing Agreement with HealthCare Royalty Partners for up to $100M.
Initial closing of $32.5M funded on same date; new financing replaces prior debt.

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

Liquidia Corp terminated Amended and Restated Loan and Security Agreement with Silicon Valley Bank valued at payoff amount of $22,356,635 (effective 2023-01-27).

Action: termination
Agreement: credit facility
Counterparty: Silicon Valley Bank
Value: payoff amount of $22,356,635
Effective: 2023-01-27

Exact text from the filing

On the Initial Closing Date, the SVB Loan was terminated upon the receipt by SVB of a payoff amount of $22,356,635 from the Company Group.

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Liquidia Corp filing history →

Source: SEC EDGAR

accession 0001104659-23-007995

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