secwatch.observer — SEC 8-K summary
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Issuer:     IRONWOOD PHARMACEUTICALS INC (IRWD)
CIK:        0001446847
Form:       8-K
Filed at:   2024-09-30T23:59:59+00:00
Accession:  0001104659-24-103925
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ironwood amends credit facility to $550M, extends maturity to 2028; declines CNP-104 option
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- Revolving credit facility increased from $500M to $550M; $400M outstanding as of amendment date.
- Maturity extended to earlier of Dec 31, 2028 or 91 days before convertible notes maturity, subject to liquidity.
- Maximum consolidated secured net leverage ratio raised to 3.50x (initial period), stepping down to 3.00x; can rise further for acquisitions over $50M.
- Ironwood will not exercise option for CNP-104 (primary biliary cholangitis); collaboration with COUR terminates, no further rights or obligations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1446847/000110465924103925/0001104659-24-103925-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1446847/000110465924103925/tm2425053d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-103925

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