Arcturus Therapeutics Holdings Inc. (ARCT): debt financing — Arcturus Therapeutics enters $50M revolving credit facility with Wells Fargo

Arcturus Therapeutics Holdings Inc.

Credit agreement with Wells Fargo for $50M revolving line; two-year term, renewable annually.
Borrowings bear interest at SOFR +1.00%; default rate +2.00%.
No prepayment penalty; collateral of $55M in cash pledged.
Commitment fee of 0.25% of loan amount for each renewal.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Arcturus Therapeutics Holdings Inc. incurred revolving credit of $50 million revolving credit line with Wells Fargo Bank, National Association at 1.00% above either the Daily Simple SOFR or Term SOFR maturing two years.

Instrument: revolving credit
Principal: $50 million revolving credit line
Counterparty: Wells Fargo Bank, National Association
Rate: 1.00% above either the Daily Simple SOFR or Term SOFR
Maturity: two years
Event: incurrence

Exact text from the filing

On April 21, 2023, Arcturus Therapeutics, Inc. (“Borrower”), a wholly-owned subsidiary of Arcturus Therapeutics Holdings Inc. (the “Company”, and together with Borrower, “Arcturus”), entered into a credit agreement (the “Credit Agreement”) Wells Fargo Bank, National Association (“Wells Fargo”) whereby Wells Fargo will make a $50 million revolving credit line available to Arcturus (the “Loan”)

View on SEC.gov

Browse all debt financings →

Arcturus Therapeutics Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001193805-23-000595

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.