MannKind Corp Files 8-K: Other Event

TL;DR

MNKD filed an 8-K for an 'Other Event' on April 1st. Details TBD.

AI Summary

On April 1, 2024, MannKind Corporation (MNKD) filed an 8-K report detailing an "Other Event." The filing does not disclose specific financial figures or significant corporate actions, but it serves as a notification to the SEC regarding an event that may be of interest to investors. The report was filed on April 3, 2024.

Why It Matters

This filing indicates MannKind Corporation has reported an event to the SEC, which could be material information for investors, though details are not immediately apparent from the filing itself.

Risk Assessment

Risk Level: low — The filing is a standard 8-K for an 'Other Event' and does not contain specific negative or positive financial news, making the immediate risk low.

Key Players & Entities

• MannKind Corporation (company) — Registrant
• MNKD (company) — Ticker Symbol
• April 01, 2024 (date) — Earliest event reported
• April 03, 2024 (date) — Filing date
• 1 Casper Street, Danbury, Connecticut 06810 (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share MNKD The Nasdaq Stock Mar
• $31.6 m — er the Loan Agreement was approximately $31.6 million, including an exit fee of $2.8 mi
• $2.8 million — $31.6 million, including an exit fee of $2.8 million and a prepayment fee of approximately $
• $0.3 million — n and a prepayment fee of approximately $0.3 million. This amount satisfies all of the Compa
• $8.9 m — plus accrued interest was approximately $8.9 million, and the Note was also convertibl
• $8.9 million — payment to Mann Group of approximately $8.9 million (representing the market value of 2,054

Filing Documents

• mnkd-20240401.htm (8-K) — 38KB
• 0000950170-24-041225.txt ( ) — 146KB
• mnkd-20240401.xsd (EX-101.SCH) — 23KB
• mnkd-20240401_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. On April 1, 2024, MannKind Corporation (the "Company") repaid in full all outstanding indebtedness and terminated all commitments and obligations under its Credit and Security Agreement, dated as of August 6, 2019 (as amended, the "Loan Agreement"), between the Company, MannKind LLC ("MannKind LLC"), QrumPharma, Inc. ("QP"), Technosphere International, Inc. ("Technosphere," Technosphere, together with MannKind, MannKind LLC and QP, each a "Borrower" and collectively, the "Borrowers"), MidCap Financial Trust, as Agent (in such capacity, together with its successors and assigns, "Agent") and the financial institutions or other entities from time to time parties to the Credit Agreement, each as a Lender. The Company's payment to the Lenders under the Loan Agreement was approximately $31.6 million, including an exit fee of $2.8 million and a prepayment fee of approximately $0.3 million. This amount satisfies all of the Company's debt obligations under the Loan Agreement, which would have matured on August 1, 2025. In connection with the repayment of outstanding indebtedness by the Company, all liens, mortgages and security interests in any assets or property securing the obligations under the Loan Agreement were automatically terminated and released and the Borrowers were automatically released from all guarantees. In addition, on April 2, 2024, the Company and Mann Group, LLC ("Mann Group") agreed to discharge and terminate the Convertible Promissory Note, dated as of August 6, 2019, issued by the Company to Mann Group (as amended, the "Note"). By its terms, the Note was prepayable in whole at any time by the Company without penalty or premium. As of April 2, 2024, the outstanding principal balance of the Note plus accrued interest was approximately $8.9 million, and the Note was also convertible at Mann Group's option into 3,554,198 shares of common stock of the Company. The Company and Mann Group agreed to terminate all outstanding ind

View Full Filing

View this 8-K filing on SEC EDGAR