---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-22-026910"
form_type: "8-K"
ticker: "GALT"
cik: "0001133416"
company_name: "GALECTIN THERAPEUTICS INC"
filed_at: "2022-07-26T23:59:59+00:00"
generated_at: "2026-06-24T08:34:48.452901+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Galectin Therapeutics secures $60M credit line from chairman; CEO extends stock compensation

## Summary
- $60M unsecured line of credit from Chairman Richard Uihlein through July 31, 2024; principal & interest due Jan 31, 2026.
- Interest at AFR (2.84%) + 2%; conversion price at closing price but not below $3.00 per share.
- Initial warrant for 500k shares at $5.00; up to 1.2M additional warrants at 150% of draw closing price (floor $3, cap $10).
- CEO Joel Lewis extends 80% stock compensation through Dec 2023; employment term extended to Dec 2024.
- Proceeds expected to fund operations through 2024; NAVIGATE phase 2b results expected mid-2024.

## SEC filing metadata
- accession: 0001140361-22-026910
- form_type: 8-K
- ticker: GALT
- cik: 0001133416
- company_name: GALECTIN THERAPEUTICS INC
- filed_at: 2022-07-26T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1133416/000114036122026910/0001140361-22-026910-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1133416/000114036122026910/brhc10039901_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-22-026910
- JSON: https://secwatch.observer/filing/0001140361-22-026910.json
- Plain text: https://secwatch.observer/filing/0001140361-22-026910.txt

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