TREX WIND-DOWN, INC.: debt financing — Timber Pharma increases bridge loan to $6.5M, adjourns merger vote to Nov 17

TREX WIND-DOWN, INC.

Bridge loan from LEO US Holding increased by $3.5M to $6.5M total; $1.8M funded Oct 27, $1.7M available after Nov 13.
Special meeting to vote on LEO Pharma merger adjourned to Nov 17, 2023; only 1,039,324 votes for adjournment vs 141,530 against.
Loan amendment includes release of claims by borrowers and proceeds used for working capital and general corporate purposes.
Merger agreement (Aug 20, 2023) still pending stockholder approval; company needs additional time to secure votes.

item 1.01 item 2.03 item 5.07 item 9.01

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

TREX WIND-DOWN, INC. incurred loan of $3.5 million with LEO US Holding, Inc..

Instrument: loan
Principal: $3.5 million
Counterparty: LEO US Holding, Inc.
Event: incurrence

Exact text from the filing

Parent agreed to increase the aggregate amount of the Bridge Loan by $3.5 million

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TREX WIND-DOWN, INC. amended First Amendment to the Bridge Loan Agreement with LEO US Holding, Inc., LEO Pharma A/S valued at $3.5 million (effective 2023-10-27).

Action: amendment
Agreement: credit facility
Counterparty: LEO US Holding, Inc., LEO Pharma A/S
Value: $3.5 million
Effective: 2023-10-27

Exact text from the filing

On October 27, 2023, Timber, Timber Pharmaceuticals, LLC, BioPharmX, Inc. and Parent entered into the First Amendment to the Bridge Loan Agreement (the “Bridge Loan Amendment”), whereby Parent agreed to increase the aggregate amount of the Bridge Loan by $3.5 million to a total of $6.5 million

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TREX WIND-DOWN, INC. entered into Secured Bridge Loan Agreement with LEO US Holding, Inc., LEO Pharma A/S valued at $3.0 million (effective 2023-08-30).

Action: entry
Agreement: credit facility
Counterparty: LEO US Holding, Inc., LEO Pharma A/S
Value: $3.0 million
Effective: 2023-08-30

Exact text from the filing

Timber, Timber Pharmaceuticals, LLC, BioPharmX, Inc. Parent entered into a Secured Bridge Loan Agreement (the “Bridge Loan Agreement”), pursuant to which Parent has agreed to loan Timber an aggregate amount of $3.0 million (the “Bridge Loan”).

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Source: SEC EDGAR

accession 0001437749-23-029404

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