ZyVersa extends waiver of $1.5M milestone payments due to L&F Research to March 31, 2023

ZyVersa Therapeutics, Inc.

Second Amendment to Waiver extends L&F Research's forbearance on terminating license for non-payment of $500K IND Milestone and two $500K Phase 1/2 milestone payments.
Waiver Period extended to March 31, 2023; original deadline was January 3, 2023.
If license is terminated for other reasons or a bankruptcy event occurs before July 31, 2023, the waiver is void and payment obligations retroactively reinstated.
All other terms of the underlying License Agreement remain unchanged.

Key facts

Extracted from this filing and checked against the source text.

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

ZyVersa Therapeutics, Inc. amended Second Amendment to Waiver of Certain Rights under License Agreement with L&F Research LLC valued at $1,500,000 (effective 2022-12-23).

Action: amendment
Agreement: license
Counterparty: L&F Research LLC
Value: $1,500,000
Effective: 2022-12-23

Exact text from the filing

On December 23, 2022, ZyVersa Therapeutics, Inc., a Delaware corporation (the “Company”) entered into a Second Amendment to Waiver of Certain Rights under License Agreement, by and between L&F Research and ZyVersa Therapeutics, Inc., a Florida corporation (“Old ZyVersa”), a wholly owned subsidiary of the Company (the “Second Amendment”), amending the previously disclosed Waiver Agreement, dated March 2, 2022, by and between L&F Research and Old ZyVersa (the “Waiver Agreement”), as amended.

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ZyVersa Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-036510

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