---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-046527"
form_type: "8-K"
ticker: "RIGL"
cik: "0001034842"
company_name: "RIGEL PHARMACEUTICALS INC"
filed_at: "2024-04-12T23:59:59+00:00"
generated_at: "2026-06-03T23:14:47.489593+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Rigel amends MidCap credit agreement; maturity extended to Sep 2027, SOFR+6.50%

## Summary
- Maturity date for term loans extended to September 1, 2027; interest-only period through October 1, 2025.
- Interest rate set to SOFR plus 6.50% with a 4.00% floor; prepayment premium 1.5% through Sep 2025, then 1.0%.
- Must maintain Borrower Unrestricted Cash of at least $10.0 million; TAVALISSE Net Revenue covenant triggered below 1.25x coverage.
- Exit fee increased; amortization payments begin October 1, 2025; all principal due at maturity.

## SEC filing metadata
- accession: 0001104659-24-046527
- form_type: 8-K
- ticker: RIGL
- cik: 0001034842
- company_name: RIGEL PHARMACEUTICALS INC
- filed_at: 2024-04-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1034842/000110465924046527/0001104659-24-046527-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1034842/000110465924046527/tm2411663d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-046527
- JSON: https://secwatch.observer/filing/0001104659-24-046527.json
- Plain text: https://secwatch.observer/filing/0001104659-24-046527.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1034842/000110465924046527/0001104659-24-046527-index.htm

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