{"schema_version":"secwatch.filing_event.v1","accession":"0001517022-24-000014","form_type":"8-K","ticker":"AKBA","cik":"0001517022","company_name":"Akebia Therapeutics, Inc.","filed_at":"2024-01-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.460405+00:00","generated_at":"2026-06-06T14:55:31.018816+00:00","sec_items":["1.01","1.02","2.03","3.02"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Akebia secures $55M Kreos term loan, draws $37M initial, issues warrants at $1.30, repays Pharmakon debt","bullets":["Initial draw of $37M under senior secured term loan; up to $55M total with two additional tranches contingent on vadadustat FDA approval and equity proceeds.","Warrant issued for 3,076,923 shares at $1.30 per share, exercisable for 8 years; additional warrant for 1,153,846 shares on Tranche C draw.","Interest rate at SOFR (floor 4.25%) + 6.75% margin (capped at 15%); interest-only period until Dec 2025 (extendable to Dec 2026).","Maturity extends to Jan 29, 2028 if vadadustat FDA approval obtained by June 30, 2024; otherwise maturity remains March 31, 2025 with accelerated amortization.","Proceeds used to repay in full the prior Pharmakon term loan and associated fees; loan secured by first-priority lien on substantially all assets."],"urls":{"canonical":"https://secwatch.observer/filing/0001517022-24-000014","json":"https://secwatch.observer/filing/0001517022-24-000014.json","markdown":"https://secwatch.observer/filing/0001517022-24-000014.md","text":"https://secwatch.observer/filing/0001517022-24-000014.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1517022/000151702224000014/0001517022-24-000014-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1517022/000151702224000014/akba-20240129.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T14:55:31.018816+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5bcb9fc1041cb7c7b74336c47b589d60456287fc","claim":"Akebia Therapeutics, Inc. incurred term loan of up to $55.0 million with Kreos Capital VII (UK) Limited at term SOFR (floor of 4.25%) plus 6.75% per annum (cap of 15.00%) maturing March 31, 2025, automatically extended to January 29, 2028 if Vadadustat FDA Approval obtained by June 30, 2024.","evidence_excerpt":"or “Lender Representative”), which are funds and accounts managed by BlackRock, and provides for a senior secured term loan facility in the aggregate principal amount of up to $55.0 million (the “Term Loan Facility”). An initial tranche of $37.0 million (the “Initial Loan”) was funded under the Term Loan Facility on the Closing Date. In addition to the Initial Loan,","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1517022/000151702224000014/0001517022-24-000014-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"up to $55.0 million"},{"label":"Counterparty","value":"Kreos Capital VII (UK) Limited"},{"label":"Rate","value":"term SOFR (floor of 4.25%) plus 6.75% per annum (cap of 15.00%)"},{"label":"Maturity","value":"March 31, 2025, automatically extended to January 29, 2028 if Vadadustat FDA Approval obtained by June 30, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"8469477f928f97fdf5f2ca17fc415b6b012d1a69","claim":"Akebia Therapeutics, Inc. entered into Credit Agreement with Kreos Capital VII (UK) Limited, as Lender Representative valued at up to $55.0 million (effective 2024-01-29).","evidence_excerpt":"On January 29, 2024 (the “Closing Date”), Akebia Therapeutics, Inc. (“Company” and collectively with any Company affiliates that are made party to the Credit Agreement as a borrower, “Borrower”) entered into an Agreement for the Provision of a Loan Facility (the “Credit Agreement”) with Kreos Capital VII (UK) Limited (“Kreos” or “Lender Representative\"), which are funds and accounts managed by BlackRock, and provides for a senior secured term loan facility in the aggregate principal amount of up to $55.0 million (the “Term Loan Facility”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1517022/000151702224000014/0001517022-24-000014-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Kreos Capital VII (UK) Limited, as Lender Representative"},{"label":"Value","value":"up to $55.0 million"},{"label":"Effective","value":"2024-01-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}