---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-077866"
form_type: "8-K"
ticker: "CTSO"
cik: "0001175151"
company_name: "Cytosorbents Corp"
filed_at: "2024-07-05T23:59:59+00:00"
generated_at: "2026-05-31T23:16:55.025539+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# CytoSorbents secures $20M credit facility with Avenue Capital; $10M available at close

## Summary
- Initial tranche $15M with $10M immediately available; $5M released upon FDA acceptance of DrugSorb-ATR De Novo.
- Interest rate Prime + 5% (floor 13.5%); maturity July 2027 (extendable to Jan 2028 if full tranche drawn).
- Lenders receive warrants for 1,645,569 shares and conversion option on up to $2M principal at 120% of closing price.
- Proceeds to fund CytoSorb global commercialization, DrugSorb-ATR FDA/Health Canada submissions, and refinance Bridge Bank debt.
- Trailing 12-month CytoSorb sales $32.2M as of March 31, 2024; DrugSorb-ATR TAM in US/Canada >$0.5B if approved.

## SEC filing metadata
- accession: 0001104659-24-077866
- form_type: 8-K
- ticker: CTSO
- cik: 0001175151
- company_name: Cytosorbents Corp
- filed_at: 2024-07-05T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1175151/000110465924077866/0001104659-24-077866-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1175151/000110465924077866/tm2418904d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-077866
- JSON: https://secwatch.observer/filing/0001104659-24-077866.json
- Plain text: https://secwatch.observer/filing/0001104659-24-077866.txt

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