secwatch.observer — SEC 8-K summary
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Issuer:     IGC Pharma, Inc. (IGC)
CIK:        0001326205
Form:       8-K
Filed at:   2023-07-07T23:59:59+00:00
Accession:  0001185185-23-000691
Event type: debt
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1326205/000118518523000691/0001185185-23-000691-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1326205/000118518523000691/igcpharma20230706c_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-23-000691

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