Equillium repays $6.8M loan from Oxford Finance and Silicon Valley Bank, terminates agreement

Equillium, Inc.

Prepaid all amounts under Loan and Security Agreement dated September 30, 2019 with Oxford Finance LLC and Silicon Valley Bank.
Total repayment of approximately $6.8 million, including $6.2M principal and interest, $62K prepayment premium, and $0.5M final fee.
No material relationship between Equillium or affiliates and the lenders beyond the loan agreement.
Company eliminates debt obligation, potentially improving balance sheet flexibility.

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

Equillium, Inc. terminated Loan Agreement with Oxford Finance LLC and Silicon Valley Bank valued at total of approximately $6.8 million (effective 2023-05-25).

Action: termination
Agreement: credit facility
Counterparty: Oxford Finance LLC and Silicon Valley Bank
Value: total of approximately $6.8 million
Effective: 2023-05-25

Exact text from the filing

On May 25, 2023, Equillium, Inc. (the “Company”), prepaid in full all amounts due and owing under, and terminated, the Loan and Security Agreement dated as of September 30, 2019 (as amended from time to time, the “Loan Agreement”) among Oxford Finance LLC, as collateral agent, the certain lenders, including Oxford Finance LLC and Silicon Valley Bank (the “Lenders”), the Company, and Bioniz Therapeutics, Inc.

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Equillium, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-154186

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