secwatch.observer — SEC 8-K summary
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Issuer:     Aridis Pharmaceuticals, Inc. (—)
CIK:        0001614067
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0001493152-23-014829
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Aridis Pharmaceuticals enters $9.3M note restructuring with Streeterville Capital, $2.5M new funding
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- Secured note principal up to $9.29M; $1M direct draw at closing, $1.5M escrowed for future draws.
- Interest at 8% per annum; maturity April 26, 2024; amortization of 16.67% monthly starting October 26, 2023.
- Covenants include maintaining Nasdaq listing, filing SEC reports, and no restricted issuances without Investor consent.
- Prepayment at 110% of outstanding balance; proceeds from JV sale or equity offering trigger mandatory prepayment.
- Prior note #2 ($5.25M original principal) cancelled; outstanding balance affirmed at $2.67M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1614067/000149315223014829/0001493152-23-014829-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1614067/000149315223014829/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-014829

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