secwatch.observer — SEC 8-K summary
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Issuer:     CODEXIS, INC. (CDXS)
CIK:        0001200375
Form:       8-K
Filed at:   2026-11-10T12:33:26+00:00
Accession:  0001193125-26-454447
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Codexis signs $60M Trinity Capital term loan, repays $43.6M Innovatus debt
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- Tranche A of $42.5M funded Nov 5, 2026; Tranche B $7.5M available through Dec 15, 2027; Tranche C $10M subject to lender discretion.
- Interest at greater of 10.50% or WSJ prime (capped at 8.00%) plus 3.75%; interest-only until Nov 1, 2030, maturing Nov 1, 2031.
- Issued warrants for 1,666,668 shares at $1.08; 1,180,556 vested on Tranche A funding; 3.0% of each loan principal, expiring Nov 5, 2036.
- Repaid Innovatus Loan Agreement in full for about $43.6M, including principal, accrued interest, prepayment and final fees; liens released.
- Covenant requires liquidity at least outstanding principal when market cap is below $400M; 5.00% end-of-term payment and 1.00% commitment fee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1200375/000119312526454447/0001193125-26-454447-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1200375/000119312526454447/d187712d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-454447

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