secwatch.observer — SEC 8-K summary
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Issuer:     Savara Inc (SVRA)
CIK:        0001160308
Form:       8-K
Filed at:   2022-04-22T23:59:59+00:00
Accession:  0001193125-22-114263
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Savara enters $26.5M term loan facility with Silicon Valley Bank; refinances prior debt
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- Amended and restated loan agreement provides $26.5M term loan, refinancing all outstanding obligations under prior facility.
- Interest-only period through April 2026; if cash >1.75x outstanding, extends to maturity in April 2027.
- Floating interest rate: greater of 3% or prime minus 0.5%; final payment of 2.75% of principal.
- Secured by substantially all assets except intellectual property; prepayment fee 4.25% in first year, 1% in second, none thereafter.
- Cash covenant: if balance falls below $40M, must maintain 6 months operating expenses and 1.2x loan principal (1.75x in final year if extended).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1160308/000119312522114263/0001193125-22-114263-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1160308/000119312522114263/d356716d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-114263

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