NanoViricides defers TheraCour milestone payments until revenue; CEO extends Line of Credit

NANOVIRICIDES, INC.

Amendment to TheraCour license defers future cash milestone payments (Milestones 4-7) until company achieves a Revenue Event; capped at 50% of Recognized Revenue.
Milestones 1,2,3 already paid: 100k Series A Preferred shares, 50k Series A Preferred shares, and $1.5M via 331,859 shares in lieu of cash.
CEO Dr. Anil Diwan extended $2M line of credit maturity from Dec 31, 2024 to Dec 31, 2025; no draws to date.
TheraCour agreed to suspend two-month advance payment requirement until company raises sufficient capital.

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

NANOVIRICIDES, INC. entered into Line of Credit Agreement with Dr. Anil R. Diwan valued at $2,000,000 (effective 2023-11-13).

Action: entry
Agreement: credit facility
Counterparty: Dr. Anil R. Diwan
Value: $2,000,000
Effective: 2023-11-13

Exact text from the filing

on November 13, 2023, the Company and the Company’s President and CEO, Dr. Anil R. Diwan, entered into a Line of Credit Agreement whereby Dr. Diwan agreed to provide a standby Line of Credit to the Company in the maximum amount of $2,000,000.

View on SEC.gov

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

NANOVIRICIDES, INC. entered into License Agreement with TheraCour Pharma, Inc. (effective 2021-09-09).

Action: entry
Agreement: license
Counterparty: TheraCour Pharma, Inc.
Effective: 2021-09-09

Exact text from the filing

NanoViricides, Inc. (the “Company”) entered into a License Agreement (the “License Agreement”) with TheraCour Pharma, Inc. (“TheraCour”) for an exclusive, worldwide license to the Company for further development with respect to TheraCour’s research and development of services with respect to treatments for coronavirus derived human infections.

View on SEC.gov

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

NANOVIRICIDES, INC. amended Extension Agreement with Dr. Anil R. Diwan valued at $2,000,000 (effective 2024-02-12).

Action: amendment
Agreement: credit facility
Counterparty: Dr. Anil R. Diwan
Value: $2,000,000
Effective: 2024-02-12

Exact text from the filing

On February 12, 2024, the Company, pursuant to Article 2.5 of the Company’s Line of Credit Agreement with Dr. Anil R. Diwan, signed an Extension Agreement which extended the maturity date of the Company’s Line of Credit from December 31, 2024 to December 31, 2025.

View on SEC.gov

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

NANOVIRICIDES, INC. amended Amendment with TheraCour Pharma, Inc. (effective 2024-02-13).

Action: amendment
Agreement: license
Counterparty: TheraCour Pharma, Inc.
Effective: 2024-02-13

Exact text from the filing

Amendment to Coronavirus License Agreement As previously disclosed, on September 9, 2021, NanoViricides, Inc. (the “Company”) entered

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

NANOVIRICIDES, INC. amended a license with TheraCour Pharma, Inc. (effective 2024-02-12).

Action: amendment
Agreement: license
Counterparty: TheraCour Pharma, Inc.
Effective: 2024-02-12

Exact text from the filing

nto a License Agreement (the “License Agreement”) with TheraCour Pharma, Inc. (“TheraCour”) for an exclusive, worldwide license to the Company for further development with respect to TheraCour’s research and development of services with respect

View on SEC.gov

380 material agreements filed in the last 30 days. Browse all material agreements →

NANOVIRICIDES, INC. filing history →

Source: SEC EDGAR

accession 0001104659-24-024973

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