Annexon entered into a Loan and Security Agreement to access up to $200.0 million in term loans for working capital and general corporate purposes. The facility includes an initial $50.0 million funded at signing, up to $100.0 million in additional milestone-based tranches, and a further uncommitted $50.0 million by mutual agreement. Loans bear a floating rate equal to the greater of 1-Month CME Term SOFR plus 4.6% or 7.60%, with interest-only payments through September 1, 2029, extendable upon milestones. Maturity is July 1, 2031 or June 1, 2032 depending on milestones, and the debt is secured by substantially all assets.
Agreement details:
- Agreement type: Secured term loan facility up to $200 million
- Counterparty: Oxford Finance, as collateral agent, and certain lenders
- Signed / Effective: Jul 30 2026 / Jul 30 2026
- Duration / Termination: Matures Jul 1 2031 or Jun 1 2032
- Reason: Enhance liquidity and fund operations and pipeline programs
Original SEC Filing:
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