Ardelyx draws $50M term loan, secures $100M additional capacity from SLR

ARDELYX, INC.

Immediate draw of $50.0M (Term E Loan) under Fifth Amendment to 2022 Loan Agreement.
Option to draw $100.0M in two $50.0M tranches (Term F & G), available through June 2026 and Dec 2026.
Term E interest: 4.00% + 1-month SOFR (floor 4.70%); Incremental loans: 4.95% + SOFR (floor 3.50%).
Term E and existing loans mature July 1, 2028; Incremental loans mature July 1, 2030; interest-only periods.
Company paid $250K funding fee on Term E and $1.0M facility fee on Incremental loan commitments.

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