Eloxx Pharmaceuticals, Inc. (ELOX): debt financing — Eloxx amends Hercules loan, repays $1M; cash covenant lowered to $1.05M through Jan 2024

Eloxx Pharmaceuticals, Inc.

Minimum qualified cash reduced to $1.05M from Dec 15, 2023 to Jan 25, 2024.
Company repaid $1.0M of principal; remaining Term Loan principal is $3.1M.
After Jan 25, minimum cash reverts to $1.05M plus accounts payable unpaid over 180 days.
Amendment provides temporary liquidity relief amid cash constraints.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Eloxx Pharmaceuticals, Inc. amended credit facility of reducing the remaining outstanding principal of Term Loan Advances to $3.1 million with Hercules Capital, Inc., Hercules Capital IV, L.P..

Instrument: credit facility
Principal: reducing the remaining outstanding principal of Term Loan Advances to $3.1 million
Counterparty: Hercules Capital, Inc., Hercules Capital IV, L.P.
Event: amendment

Exact text from the filing

the Company has repaid $1.0 million of the outstanding principal (without incurring a prepayment premium), reducing the remaining outstanding principal of Term Loan Advances to $3.1 million. The foregoing description of the Fourth Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Fourth Amendment, a copy

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

Eloxx Pharmaceuticals, Inc. amended Fourth Amendment with Hercules Capital, Inc. valued at $1.0 million (effective 2023-12-15).

Action: amendment
Agreement: credit facility
Counterparty: Hercules Capital, Inc.
Value: $1.0 million
Effective: 2023-12-15

Exact text from the filing

On December 15, 2023, Eloxx Pharmaceuticals, Inc. (the “Company”) entered into the Fourth Amendment to the Loan and Security Agreement

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41 debt financings filed in the last 30 days. Browse all debt financings →

Eloxx Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-126400

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