Aytu BioPharma Files 8-K for Material Definitive Agreement

TL;DR

AYTU filed an 8-K on 6/12 for a material definitive agreement - could be debt or partnership.

AI Summary

On June 12, 2024, Aytu BioPharma, Inc. entered into a material definitive agreement related to its financial obligations. The company also made a Regulation FD disclosure and reported other events, including financial statements and exhibits.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Aytu BioPharma, which could impact its financial health and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial risks or opportunities, requiring careful evaluation of the terms.

Key Players & Entities

• AYTU BIOPHARMA, INC (company) — Registrant
• June 12, 2024 (date) — Date of earliest event reported
• 0001385818 (company) — Central Index Key

FAQ

Key Financial Figures

• $0.0001 — ch Registered Common Stock , par value $0.0001 per share AYTU The NASDAQ Stock Mar
• $13.0 m — Term Loan ") in the principal amount of $13.0 million, at an interest rate of the secur
• $5.6 million — of the four-year term of approximately $5.6 million to be repaid at maturity, (ii) the Ecli
• $14.5 million — potential maximum borrowing capacity to $14.5 million by entering into the Second Amended and

Filing Documents

• aytu20240607c_8k.htm (8-K) — 31KB
• ex_688588.htm (EX-10.1) — 897KB
• ex_688889.htm (EX-10.2) — 21KB
• ex_688888.htm (EX-10.3) — 29KB
• ex_685606.htm (EX-99.1) — 16KB
• logo01.jpg (GRAPHIC) — 4KB
• logo.jpg (GRAPHIC) — 4KB
• 0001437749-24-020590.txt ( ) — 1338KB
• aytu-20240612.xsd (EX-101.SCH) — 3KB
• aytu-20240612_def.xml (EX-101.DEF) — 12KB
• aytu-20240612_lab.xml (EX-101.LAB) — 15KB
• aytu-20240612_pre.xml (EX-101.PRE) — 12KB
• aytu20240607c_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On June 12, 2024, Aytu BioPharma, Inc. (" Aytu " or the " Company ") entered into a Consent, Joinder and Amendment No. 5 to Loan and Security Agreement (the " Eclipse Consent, Joinder and Amendment "), by and among the Company, Neos Therapeutics, Inc., Neos Therapeutics Brands, LLC, Neos Therapeutics, LP, Aytu Therapeutics, LLC, PharmaFab Texas, LLC and Cherry Creek Therapeutics, Inc. (collectively, the " Borrowers "), Innovus Pharmaceuticals, Inc., Semprae Laboratories, Inc. and Delta Prime Savings Club, Inc. (collectively, the " Aytu Obligors " and, together with the Borrowers, the " Obligors "), Eclipse Business Capital LLC (f/k/a Encina Business Credit, LLC), as agent, and the lenders party thereto (agent and such lenders, collectively, the " Eclipse Lender "). Pursuant to the Eclipse Consent, Joinder and Amendment, (i) the Eclipse Lender provided a term loan (the " Eclipse Term Loan ") in the principal amount of $13.0 million, at an interest rate of the secured overnight financing rate as administered by the SOFR Administrator (" SOFR ") plus 7.0%, with a four-year term and a straight-line loan amortization period of seven years, which would provide for a loan balance at the end of the four-year term of approximately $5.6 million to be repaid at maturity, (ii) the Eclipse Lender extended the revolving credit facility (the " Eclipse Revolving Loan ") maturity date to four years following the closing date of the Eclipse Consent, Joinder and Amendment and increased the potential maximum borrowing capacity to $14.5 million by entering into the Second Amended and Restated Revolving Note (the " Eclipse Revolving Note "), (iii) the Company, Cherry Creek Therapeutics, Inc., Aytu Therapeutics, LLC and PharmaFab Texas, LLC each joined as co-Borrowers under the Eclipse Term Loan and the Eclipse Revolving Loan and (iv) permitted the Company to use the proceeds of the Eclipse Term Loan, if the Company so chooses, towar

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. The Company issued a press release on June 18, 2024, announcing the transactions described herein, which is attached as Exhibit 99.1 to this report. The information in the press release attached as Exhibit 99.1 hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01 Other Information

Item 8.01 Other Information. As of June 18, 2024, the Company had 5,972,327 shares of common stock outstanding.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit Description 10.1* Consent, Joinder and Amendment No. 5 to Loan and Security Agreement dated June 12, 2024, between the Company, the Obligors and lenders party thereto and Eclipse Business Capital LLC as agent 10.2 Term Loan Note dated June 12, 2024 10.3 Second Amended and Restated Revolving Note dated June 12, 2024 99.1 Press Release dated June 18, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Pursuant to Item 601(b)(10) of Regulation S-K, portions of this exhibit (indicated by asterisks) have been omitted as the registrant has determined that (1) the omitted information is not material and (2) the omitted information would likely cause competitive harm to the registrant if publicly disclosed.

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. AYTU BIOPHARMA, INC. Date: June 18, 2024 By: /s/ Mark K. Oki Mark K. Oki Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR