---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-023378"
form_type: "8-K"
ticker: "SVRA"
cik: "0001160308"
company_name: "Savara Inc"
filed_at: "2026-01-27T23:59:59+00:00"
generated_at: "2026-05-16T07:26:09.704254+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Savara amends Hercules loan; adds $75M drawdown tied to FDA approval of MOLBREEVI

## Summary
- Amends $105M loan agreement; new $45M and $30M tranches available upon FDA approval of MOLBREEVI for aPAP.
- First Post-Approval Tranche of $45M must be drawn within 120 days or by June 30, 2027.
- Second $30M tranche available after first tranche drawn or expired, same deadline.
- Financial covenant compliance dates extended: unrestricted cash to Apr 2027, revenue covenant to Sep 2027 if market cap low.
- Lenders granted first-priority security interest in IP, converting to negative pledge if RTW Purchase Agreement terminated and $50M+ cash held.

## SEC filing metadata
- accession: 0001193125-26-023378
- form_type: 8-K
- ticker: SVRA
- cik: 0001160308
- company_name: Savara Inc
- filed_at: 2026-01-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1160308/000119312526023378/0001193125-26-023378-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1160308/000119312526023378/d39349d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-023378
- JSON: https://secwatch.observer/filing/0001193125-26-023378.json
- Plain text: https://secwatch.observer/filing/0001193125-26-023378.txt

## Key facts
- Material Agreements
  Savara Inc amended First Amendment with lenders party thereto and Hercules Capital, Inc., as administrative agent and collateral agent valued at up to an aggregate of $105 million of term loans (effective 2026-01-26).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: lenders party thereto and Hercules Capital, Inc., as administrative agent and collateral agent
  - Value: up to an aggregate of $105 million of term loans
  - Effective: 2026-01-26
  source text: On January 26, 2026, Savara Inc. (the “Company”) entered into a First Amendment (the “First Amendment”) to the Loan and Security Agreement, dated March 26, 2025 (the “Loan Agreement”), with the lenders party thereto (the “Lenders”) and Hercules Capital, Inc., as administrative agent and collateral agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1160308/000119312526023378/0001193125-26-023378-index.htm

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