Soligenix amends loan with Pontifax; repays $5M; reduces minimum cash covenant to $1.5M

SOLIGENIX, INC.

Repaid $5M of $8M loan principal, leaving $3M outstanding; prepayment premium eliminated.
Minimum cash covenant reduced from $4.5M to $1.5M; falls to $0 if $10M raised by Dec 31, 2023.
Conversion price set at 90% of prior day's close for first 588,599 shares; $1.70 thereafter.
FDA refusal to file HyBryte NDA triggered an Event of Default, waived until Dec 31, 2023 if $5.6M raised.
Interest-only period extended to Dec 31, 2023 if $5.6M raised; to June 30, 2024 if $10M raised.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.