Ligand Pharmaceuticals entered into an Amended and Restated Credit Agreement providing a $125.0 million secured revolving credit facility maturing September 12, 2028. The facility, arranged with Citibank as Administrative Agent and participating lenders, features leverage-based pricing, customary fees, and financial covenants including senior secured net leverage and minimum EBITDA thresholds. Borrowings are secured by certain collateral of Ligand and its guarantor subsidiaries, and the company may borrow, repay, and reborrow during the term. Management expects the facility to enhance liquidity and financial flexibility following the merger closing.
Agreement details:
- Agreement type: Secured revolving credit facility (amended and restated)
- Counterparty: Citibank, as Administrative Agent, and participating lenders
- Signed / Effective: Jul 14 2026 / Jul 14 2026
- Duration / Termination: Through Sep 12 2028
- Reason: Support liquidity and flexibility following the XOMA Royalty merger
Original SEC Filing:
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