ImmunityBio, Inc. (IBRX): debt financing — ImmunityBio signs $30M promissory note with Nant Capital (SOFR+8%, due Dec 31, 2023)

ImmunityBio, Inc.

Three $10M advances available; interest at Term SOFR + 8% per annum payable quarterly.
Net proceeds ~$29.85M after $150k origination fee (0.5%) paid to lender.
Proceeds to fund pre-commercialization, clinical development, R&D, capex, and general corporate purposes.
Lender Nant Capital is affiliate of Executive Chairman Dr. Patrick Soon-Shiong (related-party transaction).
Annual meeting results: all nine director nominees re-elected; Ernst & Young ratified as auditor.

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

ImmunityBio, Inc. incurred loan of $30.0 million with Nant Capital, LLC at Term SOFR plus 8.0% per annum maturing December 31, 2023.

Instrument: loan
Principal: $30.0 million
Counterparty: Nant Capital, LLC
Rate: Term SOFR plus 8.0% per annum
Maturity: December 31, 2023
Event: incurrence

Exact text from the filing

on June 13, 2023, the Company executed a $30.0 million promissory note with Nant Capital, LLC

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ImmunityBio, Inc. shareholders approved Ratification of Appointment of Independent Registered Public Accounting Firm at the 2023-06-13 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2023-06-13

Exact text from the filing

Votes “For” Votes “Against” Abstentions “Broker Non-Votes” 374,132,354 270,094 278,602 —

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ImmunityBio, Inc. shareholders approved Election of Nine Directors at the 2023-06-13 meeting.

Proposal: director election
Outcome: passed
Meeting: 2023-06-13

Exact text from the filing

Nominee Votes “For” Votes “Withheld” “Broker Non-Votes” Patrick Soon-Shiong, M.D. 334,538,179 6,075,920 34,066,951 Cheryl L. Cohen 339,932,285 681,814 34,066,951 Richard Adcock 339,531,860 1,082,239 34,066,951 Michael D. Blaszyk 339,884,168 729,931 34,066,951 John Owen Brennan 337,964,499 2,649,600 34,066,951 Wesley Clark 338,703,037 1,911,062 34,066,951 Linda Maxwell, M.D. 340,016,716 597,383 34,066,951 Christobel Selecky 339,831,897 782,202 34,066,951 Barry J. Simon, M.D. 337,635,450 2,978,649 34,066,951

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ImmunityBio, Inc. filing history →

Source: SEC EDGAR

accession 0001326110-23-000076

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