secwatch.observer — SEC 8-K summary
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Issuer:     RIGEL PHARMACEUTICALS INC (RIGL)
CIK:        0001034842
Form:       8-K
Filed at:   2024-04-12T23:59:59+00:00
Accession:  0001104659-24-046527
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1034842/000110465924046527/0001104659-24-046527-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1034842/000110465924046527/tm2411663d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-046527

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