Karyopharm misses $15.8M debt payment, enters forbearance; going-concern doubt through Oct 15

Karyopharm Therapeutics Inc.

Missed $15.8M principal installment due Sept 10, 2026 under Credit Agreement; events of default and cross-defaults triggered.
Forbearance runs to Oct 15, 2026; no waiver of defaults, creditors reserve remedies; defaulted debt bears +2.00% interest.
Issuing 20,000 shares of 0% convertible preferred stock at $1,000/share to pay $20M forbearance fees; conversion at $1.62/share.
Liquidity funds operations only until Oct 15, 2026; absent new funding or deal, company unable to continue as going concern.
Outstanding: ~$129M term loan, $15.6M 2028 notes, $108M 2029 notes; $113.5M future royalty obligations.

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