8-K
filed March 4, 2024, 6:59 PM ET
ticker ARMP
CIK 0000921114
debt
confidence high
sentiment neutral
materiality 0.70
Armata Pharmaceuticals, Inc. (ARMP): debt financing — Armata secures $35M secured term loan from Innoviva at 14% interest, maturity June 2025
Armata Pharmaceuticals, Inc.
- $35M loan from Innoviva Strategic Opportunities (Innoviva wholly-owned subsidiary, Armata's largest shareholder).
- Interest rate 14.0% per annum, secured by substantially all company assets; maturity June 4, 2025.
- Proceeds to fund Phase 2 trials of phage candidates AP-PA02 (Pseudomonas) and AP-SA02 (Staph aureus) and prepare for pivotal trials.
- Amendments to July 2023 and January 2023 credit agreements with Innoviva to conform permitted debt and lien terms.
- Loan guaranteed by domestic subsidiaries; customary affirmative/negative covenants and events of default.
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
Armata Pharmaceuticals, Inc. incurred term loan of $35 million with Innoviva Strategic Opportunities LLC at 14.0% per annum maturing June 4, 2025.
- Instrument
- term loan
- Principal
- $35 million
- Counterparty
- Innoviva Strategic Opportunities LLC
- Rate
- 14.0% per annum
- Maturity
- June 4, 2025
- Event
- incurrence
Exact text from the filing
The Credit Agreement provides for a secured term loan facility in an aggregate amount of $35 million (the “Loan”) at an interest rate of 14.0% per annum, and has a maturity date of June 4, 2025.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.85
Armata Pharmaceuticals, Inc. amended Second Amendment to Convertible Credit Agreement with Innoviva.
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Innoviva
Exact text from the filing
and (ii) that certain convertible credit and security agreement (the “Second Amendment to Convertible Credit Agreement” and together with the First Amendment to Credit Agreement, the “Amendments”), dated as of January 10, 2023, by and among the Company, as borrower, Innoviva, as lender, and certain domestic subsidiaries of the Company, as guarantors.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Armata Pharmaceuticals, Inc. amended First Amendment to Credit Agreement with Innoviva.
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Innoviva
Exact text from the filing
Concurrently with the execution of the Credit Agreement, the Company entered into amendments to (i) that certain credit and security agreement (the “First Amendment to Credit Agreement”), dated as of July 10, 2023, by and among the Company, as borrower, Innoviva, as lender, and certain domestic subsidiaries of the Company, as guarantors
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 1.0
Armata Pharmaceuticals, Inc. entered into Credit Agreement with Innoviva Strategic Opportunities LLC valued at $35 million (effective 2024-03-04).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Innoviva Strategic Opportunities LLC
- Value
- $35 million
- Effective
- 2024-03-04
Exact text from the filing
On March 4, 2024, Armata Pharmaceuticals, Inc. (the “Company”) announced in the press release furnished hereto as Exhibit 99.1 that it had entered into, as borrower, a credit and security agreement (the “Credit Agreement”) with Innoviva Strategic Opportunities LLC (“Innoviva”), a wholly owned subsidiary of Innoviva, Inc. (the “Parent”), a principal shareholder of the Company on March 4, 2024.
View on SEC.gov
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