Applied Therapeutics, Inc.: debt financing — Applied Therapeutics to be acquired by Cycle Group for $0.088/share plus CVRs worth up to $0.40

Applied Therapeutics, Inc.

Offer price: $0.088 per share cash plus one non-tradeable CVR with up to $0.40 per share in milestone payments.
Milestones include FDA approval for galactosemia ($0.10), CMT-SORD ($0.10), and net sales >= $200M ($0.20).
Parent provides up to $8.5M unsecured promissory note at 24% interest to fund working capital pending close.
Board unanimously approved; transaction subject to tender of majority of shares and other customary conditions.
Termination fee of $648,000 plus 4.5% of outstanding note principal payable by Applied in certain circumstances.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.6

Applied Therapeutics, Inc. incurred loan of not fully specified in excerpt with not fully specified in excerpt at not fully specified in excerpt maturing not fully specified in excerpt.

Instrument: loan
Principal: not fully specified in excerpt
Counterparty: not fully specified in excerpt
Rate: not fully specified in excerpt
Maturity: not fully specified in excerpt
Event: incurrence

Exact text from the filing

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 of this report under the caption titled “Unsecured Promissory Note,” including Exhibit 10.1 attached hereto, is incorporated by reference in this Item 2.03.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Applied Therapeutics, Inc. entered into Agreement and Plan of Merger with Cycle Group Holdings Limited and AT2B, Inc. (effective 2025-12-11).

Action: entry
Agreement: merger
Counterparty: Cycle Group Holdings Limited and AT2B, Inc.
Effective: 2025-12-11

Exact text from the filing

On December 11, 2025, Applied Therapeutics, Inc., a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Cycle Group Holdings Limited, a private limited company incorporated in England and Wales (“Parent”), and AT2B, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Parent (“Purchaser”).

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Source: SEC EDGAR

accession 0001193125-25-316607

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