Mustang Bio terminates $75M Runway loan, pays $30.7M payoff

MUSTANG BIO, INC.

Terminated Runway Loan Agreement (March 4, 2022) on April 11, 2023.
Company paid $30.7M to Runway Growth Finance Corp. covering principal, interest, and final payment.
Original facility provided up to $75M in term loans subject to milestone achievements.
Certain indemnification obligations under Section 12.3 survive termination.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MUSTANG BIO, INC. terminated Loan and Security Agreement with Runway Growth Finance Corp. valued at $30.7 million (effective 2023-04-11).

Action: termination
Agreement: credit facility
Counterparty: Runway Growth Finance Corp.
Value: $30.7 million
Effective: 2023-04-11

Exact text from the filing

On April 11, 2023, the Loan and Security Agreement, dated as of March 4, 2022, by and among Mustang Bio, Inc. (the “Company”) and Runway Growth Finance Corp., as a lender and as administrative agent and collateral agent for Lenders (“Runway”), as amended by the First Amendment, dated as of December 7, 2022 (together, the “Runway Loan Agreement”), was terminated upon receipt by Runway of a payoff amount of $30.7 million from the Company

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MUSTANG BIO, INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-044767

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