Replimune Group, Inc 8-K, filed Dec 26, 2023
Replimune Group, Inc. (REPL)
About this 8-K
Replimune Group, Inc filed this 8-K on December 26, 2023.
Items reported
- Item 1.01: Entered into a material agreement
- Item 2.03: New debt or off-balance-sheet obligation
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On December 22, 2023 (the “Closing Date”), Replimune Group, Inc. (the “Company”) and certain subsidiaries of the Company (collectively, the “Borrowers”) entered into a Second Amendment to Loan and Security Agreement (the “Amendment”) with Hercules Capital, Inc. (“Hercules”), in its capacity as administrative agent and collateral agent (the “Agent”), and certain other financial institutions that from time to time may become parties to the Loan Agreement as lenders (collectively, the “Lenders”), pursuant to which the Company, Hercules, and the Lenders agreed to amend the Loan and Security Agreement dated October 6, 2022 (as amended by that First Amendment to Loan and Security Agreement dated as of June 28, 2023, the “Loan Agreement”) to, among other things, extend the revenue milestone date thereunder to July 31, 2026.
In addition, pursuant to the Amendment, (i) the second loan tranche advance under the Loan Agreement was decreased from $45 million to $15 million, (ii) the third loan tranche advance under the Loan Agreement was increased from $25 million to $30 million and the availability of the tranche was extended until March 31, 2025, (iii) the fourth tranche advance under the Loan Agreement was increased from $35 million to $50 million and the availability of the tranche was extended until March 31, 2026, and (iv) the fifth tranche advance under the Loan Agreement was increased from $40 million to $50 million and the availability of the tranche was extended until September 15, 2026, subject to the terms and conditions thereof. The second loan tranche advance was funded on the Closing Date.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2023.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. |
The foregoing description in Item 1.01 above with respect to the Amendment is incorporated into this Item 2.03 by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| REPLIMUNE GROUP, INC. | ||
| Date: December 26, 2023 | By: | /s/ Philip Astley-Sparke |
| Philip Astley-Sparke | ||
| Chief Executive Officer | ||