Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
RIGEL PHARMACEUTICALS INC amended Amendment No. 4 to Credit and Security Agreement with MidCap Financial Trust valued at Extended maturity to September 1, 2027; interest-only period to October 1, 2025; interest rate SOFR+ (effective 2024-04-11).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- MidCap Financial Trust
- Value
- Extended maturity to September 1, 2027; interest-only period to October 1, 2025; interest rate SOFR+
- Effective
- 2024-04-11
Exact text from the filing
On April 11, 2024, Rigel Pharmaceuticals, Inc. (“ Rigel ”) entered into Amendment No. 4 (the “ Amendment ”) to that certain Credit and Security Agreement, dated as of September 27, 2019 (as further amended, supplemented or otherwise modified from time to time prior to the Amendment, the “ Existing Credit Agreement ,” and as amended by the Amendment, the “ Amended Credit Agreement ”) with Midcap Financial Trust (“ MidCap ”), as administrative agent, and the lenders party thereto (“ Lenders ”), pursuant to which MidCap and the Lenders agreed to amend the Existing Credit Agreement to, among other things, (i) extend the maturity date for the term loans to September 1, 2027 (the “ Maturity Date ”), (ii) extend the interest only period for the term loans to October 1, 2025, (iii) reset the prepayment fee applicable to the term loans, (iv) increase the exit fee payable on the term loans, (v) revise the interest rate payable on the term loans, and (vi) update certain financial covenants in con
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