secwatch.observer — SEC 8-K summary
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Issuer:     LIGAND PHARMACEUTICALS INC (LGND)
CIK:        0000886163
Form:       8-K
Filed at:   2025-09-16T23:59:59+00:00
Accession:  0001193125-25-205147
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/886163/000119312525205147/0001193125-25-205147-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/886163/000119312525205147/d92764d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-205147

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