Lexicon Pharmaceuticals Inc.
07/01/2024 | Press release | Distributed by Public on 07/01/2024 14:06
Material Agreement Form 8 K
Item 1.01 Entry into a Material Definitive Agreement
On June 28, 2024, Lexicon and one of its subsidiaries entered into a sixth amendment (the "Sixth Amendment") to its loan and security agreement (the "Loan Agreement") with Oxford Finance LLC and the lenders listed therein extending the interest-only period under the loans thereunder with an amortization date of May 1, 2027, extending the maturity date of the loans thereunder to March 1, 2029, modifying the existing financial covenants relating to net sales of INPEFA®(sotagliflozin) and minimum cash reserves and increasing the final payment due upon prepayment or maturity of the loans thereunder.
The Sixth Amendment is filed as Exhibit 10.1 to this Current Report and is incorporated herein by reference. The description of the Sixth Amendment in this Current Report is a summary and is qualified in its entirety by the terms of the Sixth Amendment.