Loan & DebtJun 26, 2026, 04:08 PM
ALX Oncology Secures $50M Multi-Tranche Term Loan Facility
AI Summary
ALX Oncology Holdings Inc. entered into a new loan and security agreement with HSBC Ventures USA Inc. for a multi-tranche term loan facility of up to $50,000,000. The company initially borrowed $10,000,000, which was used to refinance its existing loan agreement with Oxford Finance and Silicon Valley Bank. An additional $20,000,000 is available for draw through June 30, 2028, with further funds contingent on clinical trial milestones. The new facility provides capital for general corporate purposes and extends the maturity of its debt.
Key Highlights
- Secured a multi-tranche term loan facility for up to $50,000,000.
- Initially borrowed $10,000,000 at closing to refinance existing debt.
- An additional $20,000,000 is available to draw through June 30, 2028.
- Further $10,000,000 available upon achieving Phase 2 ASPEN-09 and Phase 1 ALX2004 milestones.
- Term loans mature on June 1, 2030, with amortization starting July 1, 2028 (or July 1, 2029 with milestone).
- Interest accrues at a floating per annum rate, greater of Prime Rate or 6.0%.
- Obligations are secured by substantially all of the Borrower's and guarantors' assets.
- Terminated existing loan agreement with Oxford Finance and Silicon Valley Bank.
Price Impact
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