---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-033744"
form_type: "8-K"
ticker: "CDXS"
cik: "0001200375"
company_name: "CODEXIS, INC."
filed_at: "2024-02-13T23:59:59+00:00"
generated_at: "2026-06-06T03:06:06.712517+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Codexis secures up to $40M term loan from Innovatus; $30M funded

## Summary
- First tranche of $30M funded on Feb 13, 2024; second $10M tranche available on milestones.
- Interest-only payments for 36-48 months; floating rate of greater of Prime or 7.50% plus 3.25%.
- Term loans mature 5 years from initial funding; secured by substantially all assets.
- Issued warrants to Innovatus to purchase 424,028 shares at $2.83 per share, cashless exercise.
- Proceeds used for working capital and general business requirements.

## SEC filing metadata
- accession: 0001193125-24-033744
- form_type: 8-K
- ticker: CDXS
- cik: 0001200375
- company_name: CODEXIS, INC.
- filed_at: 2024-02-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1200375/000119312524033744/0001193125-24-033744-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1200375/000119312524033744/d787129d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-033744
- JSON: https://secwatch.observer/filing/0001193125-24-033744.json
- Plain text: https://secwatch.observer/filing/0001193125-24-033744.txt

## Key facts
- Debt Financings
  CODEXIS, INC. incurred term loan of up to $40.0 million with Innovatus Life Sciences Lending Fund I, LP at the greater of (i) Primate Rate and (ii) 7.50%, plus (b) 3.25% maturing 5th anniversary of the initial funding date.
  - Instrument: term loan
  - Principal: up to $40.0 million
  - Counterparty: Innovatus Life Sciences Lending Fund I, LP
  - Rate: the greater of (i) Primate Rate and (ii) 7.50%, plus (b) 3.25%
  - Maturity: 5th anniversary of the initial funding date
  - Event: incurrence
  source text: Lenders listed on Schedule 1.1 thereto, pursuant to which Innovatus, as a Lender, has agreed to make certain term loans to the Company in the aggregate principal amount of up to $40.0 million (the “Term Loans”). Funding of the first $30.0 million tranche was completed on February 13, 2024. The Company will be eligible to draw on a second tranche of $10.0 million upon
  evidence_url: https://www.sec.gov/Archives/edgar/data/1200375/000119312524033744/0001193125-24-033744-index.htm
- Material Agreements
  CODEXIS, INC. entered into Loan Agreement with Innovatus Life Sciences Lending Fund I, LP valued at up to $40.0 million (effective 2024-02-13).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Innovatus Life Sciences Lending Fund I, LP
  - Value: up to $40.0 million
  - Effective: 2024-02-13
  source text: On February 13, 2024, Codexis, Inc. (the “Company”) entered into a loan and security agreement (the “Loan Agreement”) with Innovatus Life Sciences Lending Fund I, LP, a Delaware limited partnership (“Innovatus”) as collateral agent and the Lenders listed on Schedule 1.1 thereto, pursuant to which Innovatus, as a Lender, has agreed to make certain term loans to the Company in the aggregate principal amount of up to $40.0 million (the “Term Loans”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1200375/000119312524033744/0001193125-24-033744-index.htm

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