secwatch.observer — SEC 8-K summary
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Issuer:     Akebia Therapeutics, Inc. (AKBA)
CIK:        0001517022
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001517022-23-000040
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Akebia extends loan maturity to March 2025, removes SOFR cap
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- Extended maturity of $35M Term Loans from Nov 2024 to March 31, 2025.
- Principal payments deferred until Oct 31, 2024, then monthly installments.
- Removed 3.35% SOFR cap; interest now SOFR+0.3%+7.5% (~13.15% at amendment).
- Prior capped rate was ~11.15%; removal increases borrowing cost.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517022/000151702223000040/0001517022-23-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517022/000151702223000040/akba-20231031.htm
  HTML page:      https://secwatch.observer/filing/0001517022-23-000040

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer