Equillium, Inc 8-K, filed May 25, 2023
Equillium, Inc. (EQ)
About this 8-K
Equillium, Inc filed this 8-K on May 25, 2023.
Items reported
- Item 1.02: Ended a material agreement
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SECURITIES AND EXCHANGE COMMISSION
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Item 1.02 Termination of a Material Definitive Agreement.
On May 25, 2023, Equillium, Inc. (the “Company”), prepaid in full all amounts due and owing under, and terminated, the Loan and Security Agreement dated as of September 30, 2019 (as amended from time to time, the “Loan Agreement”) among Oxford Finance LLC, as collateral agent, the certain lenders, including Oxford Finance LLC and Silicon Valley Bank (the “Lenders”), the Company, and Bioniz Therapeutics, Inc. For a description of the Loan Agreement, refer to Note 10 to the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2022. In connection with the repayment and termination of the Loan Agreement, the Company paid a total of approximately $6.8 million, which consisted of (i) the remaining principal amount and interest outstanding of approximately $6.2 million, (ii) a prepayment premium of approximately $62,000, (iii) a final payment fee of approximately $0.5 million, and (iv) the remainder for transaction expenses. There was no material relationship between the Company or its affiliates and the other parties to the Loan Agreement other than in respect of such agreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EQUILLIUM, INC. | ||||||
| Date: May 25, 2023 | By: | /s/ Bruce D. Steel | ||||
| Bruce D. Steel | ||||||
| President and Chief Executive Officer | ||||||