---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-003565"
form_type: "8-K"
ticker: "ARDX"
cik: "0001437402"
company_name: "ARDELYX, INC."
filed_at: "2023-02-15T23:59:59+00:00"
generated_at: "2026-06-19T11:04:47.560073+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Ardelyx amends SLR loan; extends interest-only and draw deadlines conditional on FDA tenapanor decision

## Summary
- Interest-only period extended to April 1, 2025 if FDA approves tenapanor hyperphosphatemia NDA by Nov 30, 2023 or 2023 revenue milestones met.
- Draw period for additional $22.5M Term B Loan extended to Dec 20, 2023, tied to same FDA approval timeline.
- Interest rate revised to 7.95% + greater of 1% or (0.022% + 1-month CME Term SOFR).
- Amendment provides financial flexibility while awaiting FDA decision on tenapanor.

## SEC filing metadata
- accession: 0001628280-23-003565
- form_type: 8-K
- ticker: ARDX
- cik: 0001437402
- company_name: ARDELYX, INC.
- filed_at: 2023-02-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437402/000162828023003565/0001628280-23-003565-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437402/000162828023003565/ardx-20230209.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-003565
- JSON: https://secwatch.observer/filing/0001628280-23-003565.json
- Plain text: https://secwatch.observer/filing/0001628280-23-003565.txt

## Key facts
- Debt Financings
  ARDELYX, INC. amended credit facility with SLR Investment Corp., as collateral agent, and the lenders listed on Schedule 1.1 to the Loan Agreement at 7.95% plus the greater of (a) one percent (1.00%) per annum and (b)(i) 0.022% pl.
  - Instrument: credit facility
  - Counterparty: SLR Investment Corp., as collateral agent, and the lenders listed on Schedule 1.1 to the Loan Agreement
  - Rate: 7.95% plus the greater of (a) one percent (1.00%) per annum and (b)(i) 0.022% pl
  - Event: amendment
  source text: On February 9, 2023, we entered into a second amendment (the “Second Amendment”) to our loan and security agreement (the “Loan Agreement”) with SLR Investment Corp., as collateral agent (the “Agent”), and the lenders listed on Schedule 1.1 to the Loan Agreement (collectively the “Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437402/000162828023003565/0001628280-23-003565-index.htm
- Material Agreements
  ARDELYX, INC. amended Second Amendment with SLR Investment Corp., as collateral agent, and the lenders listed on Schedule 1.1 to the Loan Agreement (effective 2023-02-09).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: SLR Investment Corp., as collateral agent, and the lenders listed on Schedule 1.1 to the Loan Agreement
  - Effective: 2023-02-09
  source text: On February 9, 2023, we entered into a second amendment (the “Second Amendment”) to our loan and security agreement (the “Loan Agreement”) with SLR Investment Corp., as collateral agent (the “Agent”), and the lenders listed on Schedule 1.1 to the Loan Agreement (collectively the “Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437402/000162828023003565/0001628280-23-003565-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.