ALX Oncology enters $50M loan facility with HSBC; $10M drawn at close, refinances existing debt

ALX ONCOLOGY HOLDINGS INC

Total facility up to $50M: $10M drawn at closing to refinance Oxford Finance/SVB loans; $20M available to June 30, 2028.
Milestone-dependent $10M tranche tied to Phase 2 ASPEN-09 (Evorpacept) data and Phase 1 ALX2004 safety; $10M at lender discretion.
Term loans mature June 1, 2030; interest at greater of Prime Rate or 6.0% per annum; monthly interest-only until July 2028 (or 2029 if milestone met).
Secured by substantially all assets with negative pledge on IP; customary covenants and 2% prepayment fee in year one.

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