Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Clene Inc. amended Second Amendment to Supplement to Loan and Security Agreement with Avenue Venture Opportunities Fund, L.P. valued at Amendment extends interest-only period to June 30, 2024 (subject to $35M equity milestone) or Decemb (effective 2023-06-27).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Avenue Venture Opportunities Fund, L.P.
- Value
- Amendment extends interest-only period to June 30, 2024 (subject to $35M equity milestone) or Decemb
- Effective
- 2023-06-27
Exact text from the filing
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 1.01 Entry into a Material Definitive Agreement. On June 27, 2023 (the “Effective Date”) , Clene Inc. and its wholly owned subsidiary, Clene Nanomedicine, Inc. (together with Clene Inc. and its other subsidiaries, the “Company”), entered into the Second Amendment to Supplement to Loan and Security Agreement (the “Second Amendment”) by and among Avenue Venture Opportunities Fund, L.P. (“Avenue”) and the Company. The Company originally entered into the Loan and Security Agreement (the “Loan”) with Avenue on May 21, 2021. Pursuant to the Second Amendment, the interest-only period of the Loan may be extended (i) through June 30, 2024, subject to the Company’s receipt of at least thirty-five million dollars ($35,000,000) in June 2023 from the sale and issuance of the Company’s equity securi
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