GLOBAL BLOOD THERAPEUTICS, INC. : conclusion of a material definitive agreement, creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a holder (form 8-K)

Article 1.01. The conclusion of an important definitive agreement.

At December 14, 2021, Global Blood Therapeutics, Inc. (the “Company”) has entered into an amended and restated loan agreement (the “A&R Loan Agreement”) with funds managed by Pharmakon SEC Advisors, BioPharma Credit PLC, as guarantee agent, BPCR limited partnership, as a lender, and Biopharma Credit Investments V (Master) LP, as a lender (together, the “Lenders”). The A&R loan agreement amends, reformulates and replaces in its entirety the loan agreement, dated
December 17, 2019, previously entered into by the Company and the Lenders (the “Previous Loan Agreement”).

The A&R loan agreement provides the Company with an additional term loan commitment from the lenders in the aggregate principal amount of one hundred million dollars ($ 100,000,000) up to December 28, 2021 (the “Tranche C Loan”). The tranche C loan is in addition to the initial tranche of the term loan for a total principal amount of seventy-five million dollars ($ 75,000,000) which was drawn during the signing of the previous Loan Agreement in december 2019 (the “Tranche A Loan”) and a subsequent term loan tranche in the aggregate principal amount of seventy-five million dollars ($ 75,000,000) which was drawn under the previous loan agreement in november 2020 (the “Tranche B Loan” and collectively with the Tranche C Loan and the Tranche A Loan, the “Term Loan”).

Under the A&R loan agreement, the term loan has a maturity date of December 17, 2027 with interest payments only due on each tranche of the term loan up to
March 31, 2025. The term loan bears interest at the rate of 7.00% plus the LIBOR rate. The term loan is subject to certain mandatory prepayment provisions, including an early repayment required in the event of a change of control of the Company.

The obligations under the A&R loan agreement are secured by a first ranking security interest and a lien on substantially all of the assets of the Company, subject to certain exceptions.

The A&R loan agreement contains certain customary representations and warranties, positive and negative covenants and events of default applicable to the Company and its subsidiaries. If an event of default occurs and continues, lenders can, among other things, expedite loans and seize collateral.

The foregoing description of the terms of the A&R Loan Agreement does not purport to be complete and is subject to, and is qualified in its entirety by, a reference to the A&R Loan Agreement, which the Company intends to file. as an attachment to its annual report on Form 10-K for the fiscal year ending
December 31, 2021.

Article 2.03. Creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a registrant.

The information in Item 1.01 above relating to the A&R Loan Agreement is incorporated by reference in this Item 2.03.

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