secwatch.observer — SEC 8-K summary
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Issuer:     Karyopharm Therapeutics Inc. (KPTI)
CIK:        0001503802
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001193125-24-133791
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Karyopharm closes $100M term loan, exchanges $148M old notes for $111M new 6% notes + warrants
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1503802/000119312524133791/0001193125-24-133791-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1503802/000119312524133791/d811605d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-133791

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