Axsome Therapeutics Enters Material Definitive Agreement
Ticker: AXSM · Form: 8-K · Filed: Oct 1, 2024 · CIK: 1579428
| Field | Detail |
|---|---|
| Company | Axsome Therapeutics, INC. (AXSM) |
| Form Type | 8-K |
| Filed Date | Oct 1, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $75, $80 million, $30 million, $1.5 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement
Related Tickers: AXSM
TL;DR
AXSM signed a big deal, details TBD.
AI Summary
On September 30, 2024, Axsome Therapeutics, Inc. entered into a material definitive agreement. The filing does not provide specific details on the agreement or any associated financial figures, but it indicates a significant event for the company.
Why It Matters
This filing signals a potentially significant development for Axsome Therapeutics, Inc., which could impact its business operations, strategic direction, or financial standing.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing regarding the material definitive agreement introduces uncertainty about its implications.
Key Players & Entities
- Axsome Therapeutics, Inc. (company) — Registrant
- September 30, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Axsome Therapeutics, Inc. on September 30, 2024?
The filing states that Axsome Therapeutics, Inc. entered into a material definitive agreement on September 30, 2024, but does not provide specific details about the agreement itself.
Are there any financial terms or dollar amounts associated with this material definitive agreement mentioned in the filing?
No, the filing does not disclose any specific financial terms or dollar amounts related to the material definitive agreement.
What is the primary purpose of this Form 8-K filing for Axsome Therapeutics, Inc.?
The primary purpose of this Form 8-K filing is to report the entry into a material definitive agreement by Axsome Therapeutics, Inc.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on September 30, 2024.
Does the filing provide any information about the other party involved in the material definitive agreement?
No, the filing does not identify the other party involved in the material definitive agreement.
Filing Stats: 837 words · 3 min read · ~3 pages · Grade level 13.3 · Accepted 2024-10-01 17:24:26
Key Financial Figures
- $0.0001 — ch registered Common Stock, Par Value $0.0001 Per Share AXSM Nasdaq Global Market
- $75 — increase the Tranche 3 Commitment from $75 to $80 million; (ii) extend the availab
- $80 million — se the Tranche 3 Commitment from $75 to $80 million; (ii) extend the availability periods o
- $30 million — unt greater than or equal to the sum of $30 million plus the Qualified Cash A/P Amount at a
- $1.5 billion — Company's Market Capitalization exceeds $1.5 billion; and (v) permit Axsome Malta Ltd. (the
Filing Documents
- axsm-20240930.htm (8-K) — 41KB
- 0000950170-24-110957.txt ( ) — 149KB
- axsm-20240930.xsd (EX-101.SCH) — 23KB
- axsm-20240930_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On September 30, 2024, Axsome Therapeutics Inc., a Delaware corporation (the "Company"), entered into a Fifth Amendment (the "Fifth Amendment") to its Loan and Security Agreement (the "Loan Agreement") with Hercules Capital, Inc., a Maryland corporation ("Hercules"), in its capacity as administrative agent and collateral agent, and the other financial institutions or entities party thereto as lenders (the "Lenders"). Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Loan Agreement. As detailed further below, the Fifth Amendment improves the terms of the Loan Agreement for the Company by extending the availability period for two of the Loan Agreement tranches and expanding and liberalizing the Loan Agreement performance covenants, among other things. The Fifth Amendment amended the terms of that certain Loan and Security Agreement, dated as of September 25, 2020, by and among the Company, Hercules and the Lenders (as amended by the First Amendment to Loan and Security Agreement, dated as of October 14, 2021, the Second Amendment to Loan and Security Agreement, dated as of March 27, 2022, the Third Amendment to Loan and Security Agreement, dated as of January 9, 2023, and the Waiver and Fourth Amendment to Loan and Security Agreement, dated as of May 8, 2023, and as further amended by the Fifth Amendment) to, among other things: (i) increase the Tranche 3 Commitment from $75 to $80 million; (ii) extend the availability periods of Tranche 1D to June 15, 2025 and that of Tranche 1E to December 15, 2025, as set forth in greater detail in the Fifth Amendment; (iii) alter the terms of Performance Covenant A, Performance Covenant B, and Performance Covenant C and also add a Performance Covenant D, as set forth in greater detail in the Fifth Amendment; (iv) conditionally waive the requirement that the Company maintain Qualified Cash in an amount greater than or e
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Axsome Therapeutics, Inc. Date: October 1, 2024 By: /s/ Herriot Tabuteau, M.D. Name: Title: Herriot Tabuteau, M.D. President and Chief Executive Officer