Material Agreement Form 8 K

Item 1.01.

Entry Into a Material Definitive Agreement.

First Amendment to Loan and Security Agreement

On November 22, 2024, Eyenovia, Inc. (the "Company") entered into the First Amendment (the "First Amendment") to the Supplement (the "Supplement") to that certain Loan and Security Agreement, dated November 22, 2022 (the "Loan and Security Agreement") with Avenue Capital Management II, L.P., as administrative agent and collateral agent, Avenue Venture Opportunities Fund, L.P., as a lender ("Avenue 1") and Avenue Venture Opportunities Fund II, L.P., as a lender (together with Avenue 1, the "Lenders").

As previously disclosed, the Loan and Security Agreement, as supplemented by the Supplement, provides for term loans in an aggregate principal amount of up to $15.0 million to be delivered in multiple tranches. As of November 19, 2024, the Company owed $10.1 million in principal and accrued interest under the facility. Amounts outstanding under the facility bear interest at an annual rate equal to the greater of (a) 7.0% and (b) the prime rate as reported in The Wall Street Journal plus 4.45% (the "Interest Rate"). The maturity date is November 1, 2025.

Pursuant to the First Amendment, the Lenders agreed to defer principal and interest payments on amounts outstanding until the end of February 2025. Deferred interest will accrue on the outstanding principal amount at the Interest Rate.

The foregoing descriptions of the Loan and Security Agreement and the Supplement do not purport to be complete and are qualified in their entirety by reference to the full text of the Loan and Security Agreement and the Supplement, copies of which were filed as Exhibits 10.30 and 10.31, respectively, to the Annual Report on Form 10-K filed by the Company on March 31, 2023. The foregoing description of the First Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the First Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Subscription Agreement

In connection with the First Amendment, the Company and the Lenders entered into a Subscription Agreement, dated November 22, 2024 (the "Subscription Agreement"), under which the Company agreed to issue to the Lenders an aggregate of 1,901,733 shares (the "Shares") of common stock, par value $0.0001 per share, of the Company, at a price per share of approximately $0.1052, which was based on the five trading-day VWAP preceding entry into the Subscription Agreement. The issuance of the Shares will be exempt from registration under the Securities Act of 1933, as amended, and is expected to occur on or around November 25, 2024.

The foregoing description of the Subscription Agreement does not purport to be complete and is qualified in its entirety by reference to the Subscription Agreement, a copy of which is attached as Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference.

Public link

Please use the above public link if you want to share this noodl on another website.