---
schema_version: "secwatch.filing_event.v1"
accession: "0001274737-23-000041"
form_type: "8-K"
ticker: "XGN"
cik: "0001274737"
company_name: "EXAGEN INC."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T20:50:18.183539+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Exagen amends loan with Innovatus: $10M prepaid, interest-only extended, revenue covenants eased

## Summary
- Prepaid $10M principal; prepayment fee waived.
- Interest rate: prime (floor 8%) + 2%, with 1.5% payable-in-kind (PIK) through Apr 2026.
- Interest-only period extended to March 2026; maturity extended to Dec 31, 2026.
- Revenue covenant thresholds reduced; can be bypassed if cash balance ≥50% of loan principal.
- Added 30-day cure period for covenant breaches; broadened permitted indebtedness limits.

## SEC filing metadata
- accession: 0001274737-23-000041
- form_type: 8-K
- ticker: XGN
- cik: 0001274737
- company_name: EXAGEN INC.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1274737/000127473723000041/0001274737-23-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1274737/000127473723000041/exdx-20230428.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001274737-23-000041
- JSON: https://secwatch.observer/filing/0001274737-23-000041.json
- Plain text: https://secwatch.observer/filing/0001274737-23-000041.txt

## Key facts
- Material Agreements
  EXAGEN INC. amended Third Amendment to Loan and Security Agreement with Innovatus Life Sciences Lending I, LP valued at $10.0 million (effective 2023-04-28).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Innovatus Life Sciences Lending I, LP
  - Value: $10.0 million
  - Effective: 2023-04-28
  source text: On April 28, 2023, Exagen Inc. (the "Company"), entered into the Third Amendment to Loan and Security Agreement with Innovatus Life Sciences Lending I, LP ("Innovatus") and the other lenders party thereto (the "Third Loan Amendment"), which amended the term loan agreement, dated as of September 7, 2017, by and among the Company, Innovatus, and other lenders party thereto, as amended on each of November 19, 2019 and October 21, 2021 (the "Original Loan Agreement" and, as amended, the “Loan Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1274737/000127473723000041/0001274737-23-000041-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.