---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-205147"
form_type: "8-K"
ticker: "LGND"
cik: "0000886163"
company_name: "LIGAND PHARMACEUTICALS INC"
filed_at: "2025-09-16T23:59:59+00:00"
generated_at: "2026-05-17T06:35:20.440188+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Ligand Pharmaceuticals extends credit facility maturity to Sept 2028, sets minimum EBITDA at $55M

## Summary
- Third Amendment to Credit Agreement dated Sep 12, 2025 extends maturity to September 12, 2028.
- New minimum consolidated EBITDA covenant: not less than $55 million for trailing four-quarter periods.
- Amendment modifies credit agreement originally dated Oct 12, 2023, with all Lenders consenting.
- Borrower reaffirmed obligations and Guarantors reaffirmed guarantees under the agreement.

## SEC filing metadata
- accession: 0001193125-25-205147
- form_type: 8-K
- ticker: LGND
- cik: 0000886163
- company_name: LIGAND PHARMACEUTICALS INC
- filed_at: 2025-09-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/886163/000119312525205147/0001193125-25-205147-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/886163/000119312525205147/d92764d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-205147
- JSON: https://secwatch.observer/filing/0001193125-25-205147.json
- Plain text: https://secwatch.observer/filing/0001193125-25-205147.txt

## Key facts
- Debt Financings
  LIGAND PHARMACEUTICALS INC amended credit facility with Citibank, N.A. maturing September 12, 2028.
  - Instrument: credit facility
  - Counterparty: Citibank, N.A.
  - Maturity: September 12, 2028
  - Event: amendment
  source text: to, among other things, extend the maturity date to September 12, 2028 and modify the minimum consolidated EBITDA
  evidence_url: https://www.sec.gov/Archives/edgar/data/886163/000119312525205147/0001193125-25-205147-index.htm

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