secwatch.observer — SEC 8-K summary
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Issuer:     Celcuity Inc. (CELC)
CIK:        0001603454
Form:       8-K
Filed at:   2022-12-23T23:59:59+00:00
Accession:  0001493152-22-036496
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Celcuity closes $20M term loan from Innovatus under existing credit facility
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- Closed $20.0M Term B Loan on Dec 22, 2022; part of previously disclosed $75M facility.
- Interest rate is greater of prime rate or 3.25% plus 5.70%; maturity April 8, 2027.
- Interest-only payments until May 1, 2025 (or May 1, 2026 if conditions met); 4.95% PIK elected.
- Innovatus can convert up to $6.6M of principal into common stock at $10.00 per share.
- Loan is secured by all assets; proceeds for working capital and general business needs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1603454/000149315222036496/0001493152-22-036496-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1603454/000149315222036496/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-036496

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