Graybug Vision enters $2M bridge loan with CalciMedica and amends merger terms

CalciMedica, Inc.

Graybug agrees to lend CalciMedica up to $2M at 7.5% annual interest; initial $500K advanced.
Amendment ensures outstanding loan principal and interest included in Graybug's net cash for merger closing.
CalciMedica must use proceeds for payroll, rent, clinical trial, and regulatory costs; additional draws require Graybug approval.
Merger termination triggers mandatory prepayment or credit against termination fees; three-month maturity after anniversary.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CalciMedica, Inc. entered into Note Purchase Agreement with Graybug Vision, Inc. valued at $2.0 million (effective 2023-02-10).

Action: entry
Agreement: notes offering
Counterparty: Graybug Vision, Inc.
Value: $2.0 million
Effective: 2023-02-10

Exact text from the filing

On February 10, 2023, Graybug Vision, Inc. (“Graybug”) and CalciMedica, Inc. (“CalciMedica”) entered into a note purchase agreement (the “Note Purchase Agreement”) providing for Graybug to make short-term loans (the “Loan” or “Loans”) to CalciMedica up to an aggregate principal amount of $2.0 million

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CalciMedica, Inc. amended First Amendment with Graybug, CalciMedica and Camaro Merger Sub, Inc. (effective 2023-02-10).

Action: amendment
Agreement: merger
Counterparty: Graybug, CalciMedica and Camaro Merger Sub, Inc.
Effective: 2023-02-10

Exact text from the filing

In connection with the Note Purchase Agreement, on February 10, 2023, Graybug, CalciMedica and Camaro Merger Sub, Inc. (“Camaro Merger Sub”) entered into a First Amendment (the “Amendment”) to the Agreement and Plan of Merger and Reorganization (the “Merger Agreement”)

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CalciMedica, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-041092

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