secwatch.observer — SEC 8-K summary
======================================

Issuer:     ALX ONCOLOGY HOLDINGS INC (ALXO)
CIK:        0001810182
Form:       8-K
Filed at:   2026-06-26T20:02:14+00:00
Accession:  0001193125-26-285425
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810182/000119312526285425/0001193125-26-285425-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810182/000119312526285425/alxo-20260625.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-285425

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