AGENUS INC (AGEN): debt financing — Agenus enters $10M promissory note with Zydus; bears 3.81% interest, secured by 822,910 INKT shares

AGENUS INC

Up to $10M note at 3.81% p.a.; matures at APA/SPA closing or 10 days after notification that closing will not occur.
Proceeds fund Q4 2025 operational expenses of Emeryville and Berkeley facilities; forgiven if APA/SPA closes.
Collateral: 822,910 shares of MiNK Therapeutics (NASDAQ: INKT); control agreement provides Zydus rights upon default.
Bridge financing tied to pending Zydus asset purchase; facility expense amounts forgiven if deal closes.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AGENUS INC incurred loan of up to $10,000,000 with Zydus Pharmaceuticals (USA) Inc. at 3.81% per annum maturing matures upon the closing of the Asset Purchase Agreement and Securities Purchase Agreement signed by Agenus and Zydus on June 3, 2025, or, if such closings will.

Instrument: loan
Principal: up to $10,000,000
Counterparty: Zydus Pharmaceuticals (USA) Inc.
Rate: 3.81% per annum
Maturity: matures upon the closing of the Asset Purchase Agreement and Securities Purchase Agreement signed by Agenus and Zydus on June 3, 2025, or, if such closings will
Event: incurrence

Exact text from the filing

On October 8, 2025, Agenus Inc. (“Agenus”) entered into a Promissory Note Agreement (the “Note”) with Zydus Pharmaceuticals (USA) Inc. (“Zydus”), a wholly owned subsidiary of Zydus Lifesciences Limited, for up to $10,000,000 (the “Principal Amount”). The Note bears interest at 3.81% per annum and matures upon the closing of the Asset Purchase Agreement and Securities Purchase Agreement signed by Agenus and Zydus on June 3, 2025 (together, the “APA/SPA”), or, if such closings will not occur, within 10 days after notification that the APA/SPA closings will not be consummated.

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Source: SEC EDGAR

accession 0001193125-25-235819

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