Luna Innovations secures $15M White Hat loan with $9M drawn; appoints Kevin Ilcisin CEO

LUNA INNOVATIONS INC

Up to $15M delayed-draw term loan with White Hat Capital; $9M drawn at July 19 closing.
Loan matures Dec 31, 2024 (extendable to Apr 30, 2025 on sale milestones); interest at SOFR+10% (12% during extension).
Obligations secured by second-priority lien on substantially all assets; mandatory prepayment from sale proceeds.
Kevin Ilcisin named President & CEO effective Aug 1, 2024; also appointed to Board as Class I director.
Ilcisin base salary $133,330/month ($100K cash + $33K deferred), target bonus $396K, and 628,141 RSUs granted.

item 1.01 item 2.03 item 5.02 item 9.01

Executive movements

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Appointed

Kevin Ilcisin

President and Chief Executive Officer

LUNA INNOVATIONS INC

Effective: 2024-08-01
Filed: July 23, 2024, 7:59 PM ET

On July 23, 2024 the Company announced the appointment of Kevin Ilcisin as the Company’s President and Chief Executive Officer, effective as of August 1, 2024.

Appointed

Kevin Ilcisin

Class I director

LUNA INNOVATIONS INC

Effective: 2024-08-01
Filed: July 23, 2024, 7:59 PM ET

the Company’s Board of Directors (the “ Board ”) has approved the appointment of Mr. Ilcisin to the Board, effective on August 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin Ilcisin was appointed as President and Chief Executive Officer at LUNA INNOVATIONS INC.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

On July 23, 2024 the Company announced the appointment of Kevin Ilcisin as the Company’s President and Chief Executive Officer, effective as of August 1, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin Ilcisin was appointed as Class I director at LUNA INNOVATIONS INC.

Action: appointed
Role: Class I director

Exact text from the filing

the Company’s Board of Directors (the “ Board ”) has approved the appointment of Mr. Ilcisin to the Board, effective on August 1, 2024.

View on SEC.gov

Source: SEC EDGAR

accession 0001239819-24-000090

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