{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-133791","form_type":"8-K","ticker":"KPTI","cik":"0001503802","company_name":"Karyopharm Therapeutics Inc.","filed_at":"2024-05-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:18.711660+00:00","generated_at":"2026-06-02T09:46:06.891938+00:00","sec_items":["1.01","2.03","3.02","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Karyopharm closes $100M term loan, exchanges $148M old notes for $111M new 6% notes + warrants","bullets":["$100M senior secured term loan at SOFR+9.25%, matures May 2028; liquidity covenant $25M minimum.","Exchanged ~$148M of 3% 2025 notes for ~$111M of 6% 2029 secured notes and warrants for ~46M shares at $1.10 strike.","New notes convertible at $2.25/share (105% premium to $1.10 closing price on May 7); redemption make-whole payable.","Used $49.5M cash + $15M term loan + $5M new notes to cut HCRx obligations; remaining HCRx balance ~$128.3M.","Issued 6.87M shares to financial advisor J. Wood Capital as advisory fee."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-133791","json":"https://secwatch.observer/filing/0001193125-24-133791.json","markdown":"https://secwatch.observer/filing/0001193125-24-133791.md","text":"https://secwatch.observer/filing/0001193125-24-133791.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1503802/000119312524133791/0001193125-24-133791-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1503802/000119312524133791/d811605d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T09:46:06.891938+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3c9bf41d46f45c657905a6ac2991e7c060e0b3e1","claim":"Karyopharm Therapeutics Inc. incurred term loan of $100.0 million with Wilmington Savings Fund Society, FSB, as the administrative agent and collateral agent for the Lenders at Term SOFR (subject to a floor of 3.00%) plus 9.25% per annum maturing May 8, 2028.","evidence_excerpt":"The Credit Agreement provides for a senior secured term loan facility of $100.0 million (the “Term Loan”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1503802/000119312524133791/0001193125-24-133791-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$100.0 million"},{"label":"Counterparty","value":"Wilmington Savings Fund Society, FSB, as the administrative agent and collateral agent for the Lenders"},{"label":"Rate","value":"Term SOFR (subject to a floor of 3.00%) plus 9.25% per annum"},{"label":"Maturity","value":"May 8, 2028"},{"label":"Event","value":"incurrence"}]},{"claim_id":"896f3be83a4b1964876e1e6badf34d89c8ebf1de","claim":"Karyopharm Therapeutics Inc. incurred convertible notes of approximately $111.0 million aggregate principal amount of the Company’s new secured convertible senior notes.","evidence_excerpt":"approximately $111.0 million aggregate principal amount of the Company’s new secured convertible senior notes","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1503802/000119312524133791/0001193125-24-133791-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"approximately $111.0 million aggregate principal amount of the Company’s new secured convertible senior notes"},{"label":"Event","value":"incurrence"}]},{"claim_id":"2eb41fe0e5ef924918f4acf5edbbed00fee16df6","claim":"Karyopharm Therapeutics Inc. entered into Credit Agreement with the lenders party thereto, and Wilmington Savings Fund Society, FSB, as administrative agent and collateral agent valued at $100.0 million (effective 2024-05-08).","evidence_excerpt":"On May 8, 2024 (the “Closing Date”), the Company entered into a credit and guaranty agreement (the “Credit Agreement”) with the guarantors party thereto, the lenders party thereto (the “Lenders”), and Wilmington Savings Fund Society, FSB, as the administrative agent and collateral agent for the Lenders (in such capacity, the “Term Loan Agent”). The Credit Agreement provides for a senior secured term loan facility of $100.0 million (the “Term Loan”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1503802/000119312524133791/0001193125-24-133791-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"the lenders party thereto, and Wilmington Savings Fund Society, FSB, as administrative agent and collateral agent"},{"label":"Value","value":"$100.0 million"},{"label":"Effective","value":"2024-05-08"}]},{"claim_id":"b3da9c55dffe3b213dbf9b8307b8c2f6c0d3e662","claim":"Karyopharm Therapeutics Inc. entered into Exchange Agreements with a limited number of existing holders of 2025 Notes who are institutional accredited investors and qualified institutional buyers valued at approximately $148.0 million aggregate principal amount (effective 2024-05-08).","evidence_excerpt":"On the Closing Date, the Company also entered into privately-negotiated agreements (the “Exchange Agreements”) with a limited number of existing holders of 2025 Notes who are both institutional “accredited investors” (within the meaning of Rule 501(a)(1), (2), (3) or (7) promulgated under the Securities Act of 1933, as amended (the “Securities Act”)) and “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) (such existing holders, the “Exchange Participants”) to exchange approximately $148.0 million aggregate principal amount of the Exchange Participants’ existing 2025","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1503802/000119312524133791/0001193125-24-133791-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"a limited number of existing holders of 2025 Notes who are institutional accredited investors and qualified institutional buyers"},{"label":"Value","value":"approximately $148.0 million aggregate principal amount"},{"label":"Effective","value":"2024-05-08"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}