secwatch.observer — SEC 8-K summary
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Issuer:     Avalo Therapeutics, Inc. (AVTX)
CIK:        0001534120
Form:       8-K
Filed at:   2023-09-13T23:59:59+00:00
Accession:  0001628280-23-032187
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avalo extends debt forbearance to Oct 15; grants IP as collateral on $13M loan
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- Forbearance extended from Sept 15 to Oct 15, 2023 under Third Forbearance Agreement.
- Outstanding loan principal of $13.07M; MAC default asserted by lenders.
- Avalo grants security interest in owned patents and trademarks (First Amendment).
- Covenant to maintain at least $3M cash in deposit accounts subject to control agreement.
- Lenders have sole discretion to extend forbearance beyond Oct 15.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1534120/000162828023032187/0001628280-23-032187-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1534120/000162828023032187/avtx-20230913.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-032187

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