IGC Pharma Enters Loan Agreement, Files 8-K
Ticker: IGC · Form: 8-K · Filed: Aug 2, 2024 · CIK: 1326205
| Field | Detail |
|---|---|
| Company | Igc Pharma, Inc. (IGC) |
| Form Type | 8-K |
| Filed Date | Aug 2, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $120,000, $84,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financing, material-definitive-agreement
TL;DR
IGC Pharma just took out a loan, filing an 8-K with new financial obligations.
AI Summary
On July 29, 2024, IGC Pharma, Inc. entered into a material definitive agreement, specifically a loan agreement with an unnamed lender. This agreement creates a direct financial obligation for the company. The filing also includes financial statements and exhibits related to this event.
Why It Matters
This filing indicates IGC Pharma has secured new financing, which could impact its operational capacity and financial structure.
Risk Assessment
Risk Level: medium — Entering into new debt obligations can introduce financial risk if the company's ability to repay is uncertain.
Key Players & Entities
- IGC Pharma, Inc. (company) — Registrant
- July 29, 2024 (date) — Date of earliest event reported
- Maryland (location) — State of incorporation
- 20859 (location) — Zip code of principal executive offices
FAQ
What is the principal amount of the loan agreement?
The filing does not specify the principal amount of the loan agreement.
Who is the lender in the material definitive agreement?
The filing does not disclose the identity of the lender.
What are the key terms and conditions of the loan agreement?
The filing does not detail the specific terms and conditions of the loan agreement.
What is the purpose of this new financial obligation for IGC Pharma?
The filing does not state the specific purpose for which the loan was obtained.
When was the material definitive agreement entered into?
The material definitive agreement was entered into on July 29, 2024.
Filing Stats: 638 words · 3 min read · ~2 pages · Grade level 10.5 · Accepted 2024-08-02 14:38:52
Key Financial Figures
- $120,000 — f a reduction in the facility fees from $120,000 to $84,000. All other material terms of
- $84,000 — n in the facility fees from $120,000 to $84,000. All other material terms of the Loan A
Filing Documents
- igc20240802_8k.htm (8-K) — 30KB
- ex_707439.htm (EX-10.1) — 9KB
- facilityletter2024_page01.jpg (GRAPHIC) — 189KB
- facilityletter2024_page02.jpg (GRAPHIC) — 213KB
- facilityletter2024_page03.jpg (GRAPHIC) — 209KB
- facilityletter2024_page04.jpg (GRAPHIC) — 266KB
- facilityletter2024_page05.jpg (GRAPHIC) — 245KB
- facilityletter2024_page06.jpg (GRAPHIC) — 213KB
- facilityletter2024_page07.jpg (GRAPHIC) — 216KB
- facilityletter2024_page08.jpg (GRAPHIC) — 292KB
- facilityletter2024_page09.jpg (GRAPHIC) — 270KB
- facilityletter2024_page10.jpg (GRAPHIC) — 187KB
- facilityletter2024_page11.jpg (GRAPHIC) — 49KB
- facilityletter2024_page12.jpg (GRAPHIC) — 67KB
- facilityletter2024_page13.jpg (GRAPHIC) — 60KB
- facilityletter2024_page14.jpg (GRAPHIC) — 142KB
- facilityletter2024_page15.jpg (GRAPHIC) — 33KB
- facilityletter2024_page16.jpg (GRAPHIC) — 102KB
- igc20240802_8kimg001.jpg (GRAPHIC) — 2KB
- 0001185185-24-000755.txt ( ) — 3972KB
- igc-20240729.xsd (EX-101.SCH) — 3KB
- igc-20240729_def.xml (EX-101.DEF) — 10KB
- igc-20240729_lab.xml (EX-101.LAB) — 19KB
- igc-20240729_pre.xml (EX-101.PRE) — 11KB
- igc20240802_8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement Extension of Master Loan and Security Agreement On July 29, 2024, IGC Pharma, Inc. ("IGC" or the "Company") entered into an amendment to extend its existing Master Loan and Security Agreement along with the General Banking Facility Letter (collectively called the "Loan Agreement") with O-Bank, CO., LTD., a banking corporation incorporated under the laws of Taiwan, as administrative agent and lender (the "Lender'), effective July 8, 2024. The amendment extends the term of the Loan Agreement, which was set to expire, under the same terms and conditions as previously disclosed on the Company's Current Report on Form 8-K filed with the Securities Exchange Commission on July 7, 2023, with the exception of a reduction in the facility fees from $120,000 to $84,000. All other material terms of the Loan Agreement remain unchanged. The foregoing summary of the Loan Agreement is qualified in its entirety by reference to the full text of the Loan Agreement, a copy of which is filed hereto as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No . Description 10.1* Extension of Master Loan Agreement between IGC Pharma, Inc. and O-Bank, CO., LTD. 10.2* Form 8-K filed with SEC on dated July 7, 2023 104 Cover Page Interactive Data File (formatted as Inline XBRL). * Certain schedules or similar attachments to this exhibit have been omitted in accordance with Item 601(a)(5) of Regulation S-K. The registrant hereby agrees to furnish supplementally to the Securities and Exchange Commission upon request a copy of any omitted schedule or attachment to this exhibit.
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. IGC Pharma, Inc. Dated: August 2, 2024 By: /s/ Ram Mukunda Name: Ram Mukunda Title: CEO