secwatch.observer — SEC 8-K summary
======================================

Issuer:     Avalo Therapeutics, Inc. (AVTX)
CIK:        0001534120
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001628280-23-029393
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avalo extends loan forbearance to Sept 15, receives Apollo license breach notice for $837K
--------------------------------------------------------------------------------

- Second forbearance agreement extends forbearance period to September 15, 2023; company must maintain at least $3M cash in deposit accounts subject to control agreement.
- Company acknowledges MAC default and outstanding loan principal of $13,743,373 plus interest and fees.
- Apollo AP43 Limited alleges breach of license agreement due to $837,522 owed to service provider; dispute resolution initiated.
- Preliminary cash and cash equivalents approximately $5.4M as of August 11, 2023; subject to change.
- Company may need to negotiate settlement with Apollo, but success not guaranteed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1534120/000162828023029393/0001628280-23-029393-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1534120/000162828023029393/avtx-20230814.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-029393

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