---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-008908"
form_type: "8-K"
ticker: "ARDX"
cik: "0001437402"
company_name: "ARDELYX, INC."
filed_at: "2024-03-05T23:59:59+00:00"
generated_at: "2026-06-05T03:42:25.209146+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Ardelyx draws $50M Term C Loan under existing SLR credit facility

## Summary
- Received $50.0 million on March 1, 2024 as Term C Loan under 2022 Loan Agreement with SLR Investment Corp.
- Loan matures March 1, 2027; interest rate of 4.25% plus 1-month CME Term SOFR (floor 4.7%).
- Interest-only payments permitted until December 31, 2026.
- Loan secured by cash and other collateral; customary events of default with 4% default interest.

## SEC filing metadata
- accession: 0001628280-24-008908
- form_type: 8-K
- ticker: ARDX
- cik: 0001437402
- company_name: ARDELYX, INC.
- filed_at: 2024-03-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437402/000162828024008908/0001628280-24-008908-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437402/000162828024008908/ardx-20240301.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-008908
- JSON: https://secwatch.observer/filing/0001628280-24-008908.json
- Plain text: https://secwatch.observer/filing/0001628280-24-008908.txt

## Key facts
- Debt Financings
  ARDELYX, INC. incurred term loan of $50.0 million with SLR Investment Corp. as collateral agent and the lenders listed in the agreement at 4.25% plus a SOFR value equal to 0.022% plus the 1-month CME Term SOFR reference maturing March 1, 2027.
  - Instrument: term loan
  - Principal: $50.0 million
  - Counterparty: SLR Investment Corp. as collateral agent and the lenders listed in the agreement
  - Rate: 4.25% plus a SOFR value equal to 0.022% plus the 1-month CME Term SOFR reference
  - Maturity: March 1, 2027
  - Event: incurrence
  source text: On March 1, 2024, Ardelyx, Inc. (the we, us, our) received $50.0 million of funding (Term C Loan) pursuant to the loan and security agreement entered into in February 2022 by and between us and SLR Investment Corp. as collateral agent (Agent) and the lenders listed in the agreement (collectively, the Lenders), and as amended in August 2022, February 2023 and October 2023 (collectively, the 2022 Loan Agreement).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437402/000162828024008908/0001628280-24-008908-index.htm

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