---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-001504"
form_type: "8-K"
ticker: "LQDA"
cik: "0001819576"
company_name: "Liquidia Corp"
filed_at: "2024-01-05T23:59:59+00:00"
generated_at: "2026-06-07T03:20:08.161099+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Liquidia raises $100M: $75M equity private placement + $25M debt from HCR

## Summary
- Private placement of 7,182,532 shares at $10.442/share (8% discount to Jan 3 close) to Patient Square Capital affiliate; gross proceeds ~$75M.
- Fourth amendment to RIFA funds additional $25M from HCR, bringing total drawn to $67.5M; remaining $32.5M available upon mutual agreement.
- CFO says combined $126M (including Dec 2023 offerings) positions company to reach profitability if YUTREPIA launches by April 2024.
- Proceeds to fund commercial development, clinical trials for YUTREPIA (PAH/PH-ILD) and L606, plus general corporate purposes.
- Equity issuance expected to close January 8, 2024; no broker fees paid.

## SEC filing metadata
- accession: 0001104659-24-001504
- form_type: 8-K
- ticker: LQDA
- cik: 0001819576
- company_name: Liquidia Corp
- filed_at: 2024-01-05T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819576/000110465924001504/0001104659-24-001504-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819576/000110465924001504/tm242158d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-001504
- JSON: https://secwatch.observer/filing/0001104659-24-001504.json
- Plain text: https://secwatch.observer/filing/0001104659-24-001504.txt

## Key facts
- Material Agreements
  Liquidia Corp entered into Registration Rights Agreement with Legend Aggregator, LP valued at Agreement to file registration statement for resale of Private Placement Shares (effective 2024-01-04).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Legend Aggregator, LP
  - Value: Agreement to file registration statement for resale of Private Placement Shares
  - Effective: 2024-01-04
  source text: In connection with the Private Placement, on January 4, 2024, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with the Purchaser.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819576/000110465924001504/0001104659-24-001504-index.htm
- Material Agreements
  Liquidia Corp entered into Fourth Amendment to Revenue Interest Financing Agreement with HealthCare Royalty Partners IV, L.P. valued at $25,000,000 additional funding (effective 2024-01-03).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: HealthCare Royalty Partners IV, L.P.
  - Value: $25,000,000 additional funding
  - Effective: 2024-01-03
  source text: On January 3, 2024, Liquidia Technologies and HCR entered into a Fourth Amendment to the Financing Agreement (the “Fourth Amendment”) to fund an additional $25.0 million thereunder.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819576/000110465924001504/0001104659-24-001504-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.