---
schema_version: "secwatch.filing_event.v1"
accession: "0001866390-23-000111"
form_type: "8-K"
ticker: null
cik: "0001866390"
company_name: "Babylon Holdings Ltd"
filed_at: "2023-07-21T23:59:59+00:00"
generated_at: "2026-06-13T05:09:08.613493+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Babylon secures additional $11.5M bridge loan from AlbaCore amid going concern risks

## Summary
- Additional $11.5M (net $10M after OID) senior secured bridge loan from AlbaCore; first $6.9M tranche funded July 20.
- Proceeds for working capital; PIK interest at Term SOFR + 12% margin; repayable on demand.
- Company reiterates going-concern doubts; delisting from NYSE expected July 28, 2023; shares trade OTC Pink (BBLNF).
- Bridge facility amended alongside existing $300M notes and warrants with AlbaCore.
- Potential transaction with MindMaze not yet definitive; further strategic options being evaluated.

## SEC filing metadata
- accession: 0001866390-23-000111
- form_type: 8-K
- cik: 0001866390
- company_name: Babylon Holdings Ltd
- filed_at: 2023-07-21T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1866390/000186639023000111/0001866390-23-000111-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1866390/000186639023000111/bbln-20230717.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001866390-23-000111
- JSON: https://secwatch.observer/filing/0001866390-23-000111.json
- Plain text: https://secwatch.observer/filing/0001866390-23-000111.txt

## Key facts
- Debt Financings
  Babylon Holdings Ltd incurred term loan of up to $11,500,000 with AlbaCore Bridge Notes Subscribers at Term SOFR plus credit adjustment spread plus a 12% margin.
  - Instrument: term loan
  - Principal: up to $11,500,000
  - Counterparty: AlbaCore Bridge Notes Subscribers
  - Rate: Term SOFR plus credit adjustment spread plus a 12% margin
  - Event: incurrence
  source text: Pursuant to the Amended Bridge Facility Agreement, the AlbaCore Bridge Notes Subscribers agreed to provide further secured debt financing in the form of an additional senior secured term loan notes facility (the “New Bridge Facility (July 2023)”) in an additional aggregate principal amount of up to $11,500,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866390/000186639023000111/0001866390-23-000111-index.htm
- Material Agreements
  Babylon Holdings Ltd amended Second Amendment and Restatement Agreement with certain affiliates of, or funds managed and/or advised by, AlbaCore Capital LLP (the AlbaCore Bridge Notes Subscribers) valued at up to $11,500,000 (effective 2023-07-17).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: certain affiliates of, or funds managed and/or advised by, AlbaCore Capital LLP (the AlbaCore Bridge Notes Subscribers)
  - Value: up to $11,500,000
  - Effective: 2023-07-17
  source text: “Babylon” or the “Company” and, together with its consolidated subsidiaries, the “Group”), the Subsidiary Guarantors (as defined below), and certain AlbaCore Bridge Notes Subscribers (as defined below) entered into an amendment and restatement agreement (the “Second Amendment and Restatement Agreement”) to that certain bridge loan notes facility agreement, originally dated March 9, 2023 and amended and restated by an amendment and restatement agreement dated May 10, 2023 and as further amended by an amendment letter dated June 16, 2023 (the “Bridge Facility Agreement,” and as amended and restated pursuant to the Second Amendment and Restatement Agreement, the “Amended Bridge Facility Agreement”), entered into by and among the Company, as borrower, Babylon Healthcare Inc., Babylon Partners Ltd., and Babylon Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866390/000186639023000111/0001866390-23-000111-index.htm

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