secwatch.observer — SEC 8-K summary
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Issuer:     Savara Inc (SVRA)
CIK:        0001160308
Form:       8-K
Filed at:   2025-03-26T23:59:59+00:00
Accession:  0001193125-25-064145
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Savara secures up to $200M non-dilutive debt from Hercules Capital, $30M drawn at close
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- $30M initial draw used to repay existing $26.5M SVB debt; up to $170M additional available contingent on FDA approval of MOLBREEVI and other milestones.
- Interest-only period of 36 months (extendable to 60 months upon FDA approval); floating rate of prime+1.45% (floor 6%+1.45%).
- No warrants issued; loan matures April 1, 2030; collateral includes tangible assets (negative pledge on IP).
- Milestone triggers: $80M available upon FDA approval (by end of 2025 if priority review), $20M upon revenue milestone post-2027, $70M at Hercules discretion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1160308/000119312525064145/0001193125-25-064145-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1160308/000119312525064145/d936539d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-064145

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer