ALX Oncology entered into a new secured multi-tranche term loan facility of up to $50 million with HSBC Ventures and simultaneously retired its 2022 loan led by Oxford Finance and Silicon Valley Bank. The company drew $10 million at closing to refinance the prior facility and pay fees, with an additional $20 million available through June 30, 2028, plus $10 million upon clinical milestones and a further $10 million at the lender's discretion. The new loans mature June 1, 2030 and bear interest at the greater of the Prime Rate or 6.0%, providing added liquidity for general corporate purposes.
New agreement details:
- Agreement type: Secured multi-tranche term loan facility up to $50 million
- Counterparty: HSBC Ventures USA
- Signed / Effective: Jun 25 2026 / Jun 25 2026
- Duration / Termination: Through Jun 01 2030
- Reason: Strengthen liquidity and refinance existing debt
Terminated agreement details:
- Agreement terminated: Secured term loan facility
- Counterparty: Oxford Finance and Silicon Valley Bank
- Original agreement date: Oct 27 2022
- Termination date: Jun 25 2026
- Termination type: Early
- Reason: Refinanced with new HSBC Ventures facility
Original SEC Filing:
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