---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-23-000691"
form_type: "8-K"
ticker: "IGC"
cik: "0001326205"
company_name: "IGC Pharma, Inc."
filed_at: "2023-07-07T23:59:59+00:00"
generated_at: "2026-06-13T10:56:04.071949+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# IGC Pharma secures $12M revolving credit from O-Bank for Alzheimer's research

## Summary
- Up to $12M revolving credit facility; initial 12-month term with possible extension.
- Draws limited to $1M per 30-day period; interest rate is 1% plus certificate of deposit rate.
- Bradbury Asset Management has collateralized cash assets supporting the line; Bradbury recently invested $3M in IGC.
- Proceeds support working capital, primarily for Phase 2 trial of IGC-AD1 for Alzheimer's agitation.
- Phase 2 trial targets 146 patients; 16 completed; 8 sites secured; targeting completion in Q1 2024.

## SEC filing metadata
- accession: 0001185185-23-000691
- form_type: 8-K
- ticker: IGC
- cik: 0001326205
- company_name: IGC Pharma, Inc.
- filed_at: 2023-07-07T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326205/000118518523000691/0001185185-23-000691-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326205/000118518523000691/igcpharma20230706c_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-23-000691
- JSON: https://secwatch.observer/filing/0001185185-23-000691.json
- Plain text: https://secwatch.observer/filing/0001185185-23-000691.txt

## Key facts
- Debt Financings
  IGC Pharma, Inc. incurred credit facility of up to USD$12,000,000.00 with O-Bank, CO., LTD. at interest rate mentioned in the Certificate of Deposit, as the case may be, plus maturing first anniversary of the Effective Date.
  - Instrument: credit facility
  - Principal: up to USD$12,000,000.00
  - Counterparty: O-Bank, CO., LTD.
  - Rate: interest rate mentioned in the Certificate of Deposit, as the case may be, plus
  - Maturity: first anniversary of the Effective Date
  - Event: incurrence
  source text: On June 30, 2023, (the “Effective Date”), IGC Pharma, Inc. (“IGC” or “Borrower”) entered into a Master Loan and Security Agreement along with the General Banking Facility Letter (collectively called the “Loan Agreement”) with O-Bank, CO., LTD., a banking corporation incorporated under the laws of Taiwan, as administrative agent and lender (the “Lender’) pursuant to which the Borrower may borrow up to USD$12,000,000.00 only or the equivalent thereof in other major currencies (the “Credit Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326205/000118518523000691/0001185185-23-000691-index.htm
- Material Agreements
  IGC Pharma, Inc. entered into Loan Agreement with O-Bank, CO., LTD. valued at up to USD$12,000,000.00 (effective 2023-06-30).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: O-Bank, CO., LTD.
  - Value: up to USD$12,000,000.00
  - Effective: 2023-06-30
  source text: On June 30, 2023, (the “Effective Date”), IGC Pharma, Inc. (“IGC” or “Borrower”) entered into a Master Loan and Security Agreement along with the General Banking Facility Letter (collectively called the “Loan Agreement”) with O-Bank, CO., LTD., a banking corporation incorporated under the laws of Taiwan, as administrative agent and lender (the “Lender’) pursuant to which the Borrower may borrow up to USD$12,000,000.00 only or the equivalent thereof in other major currencies (the “Credit Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326205/000118518523000691/0001185185-23-000691-index.htm

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