Soligenix, Inc. Enters Material Definitive Agreement
Ticker: SNGX · Form: 8-K · Filed: Oct 11, 2024 · CIK: 812796
| Field | Detail |
|---|---|
| Company | Soligenix, Inc. (SNGX) |
| Form Type | 8-K |
| Filed Date | Oct 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $3.81, $4.23 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financing, material-agreement
Related Tickers: SOLI
TL;DR
SOLI inked a new loan deal, creating a financial obligation.
AI Summary
On October 8, 2024, Soligenix, 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 Soligenix, Inc. has entered into a new financial obligation, which could impact its capital structure and future operations.
Risk Assessment
Risk Level: medium — Entering into new financial obligations can introduce financial risk and impact the company's balance sheet.
Key Players & Entities
- Soligenix, Inc. (company) — Filer
- October 8, 2024 (date) — Date of earliest event reported
- 001-14778 (company) — Commission File Number
FAQ
What is the nature of the material definitive agreement entered into by Soligenix, Inc.?
Soligenix, Inc. entered into a loan agreement, which constitutes a material definitive agreement and creates a direct financial obligation for the registrant.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on October 8, 2024.
What is the Commission File Number for Soligenix, Inc.?
The Commission File Number for Soligenix, Inc. is 001-14778.
What are the main items disclosed in this 8-K filing?
This 8-K filing discloses the entry into a material definitive agreement, the creation of a direct financial obligation, and includes financial statements and exhibits.
What is the state of incorporation for Soligenix, Inc.?
Soligenix, Inc. is incorporated in Delaware.
Filing Stats: 692 words · 3 min read · ~2 pages · Grade level 10.3 · Accepted 2024-10-11 16:05:22
Key Financial Figures
- $3.81 — amount under the Loan Agreement to (a) $3.81 for the first 501,648 shares of the Com
- $4.23 — rsion following October 7, 2024 and (b) $4.23 with respect to all shares of the Compa
Filing Documents
- sngx-20241008x8k.htm (8-K) — 37KB
- sngx-20241008xex10d1.htm (EX-10.1) — 47KB
- 0001558370-24-013257.txt ( ) — 216KB
- sngx-20241008.xsd (EX-101.SCH) — 4KB
- sngx-20241008_def.xml (EX-101.DEF) — 3KB
- sngx-20241008_lab.xml (EX-101.LAB) — 17KB
- sngx-20241008_pre.xml (EX-101.PRE) — 10KB
- sngx-20241008x8k_htm.xml (XML) — 5KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On October 8, 2024, Soligenix, Inc. (the "Company") and its subsidiaries, Soligenix UK Limited, Enteron Pharmaceuticals, Inc., Soligenix BioPharma Canada Incorporated, Soligenix NE B.V., and Soligenix Biopharma HI, Inc., as borrowers (collectively referred to as the "Borrower"), entered into an amendment (the "Amendment") to the Loan and Security Agreement (as previously amended, the "Loan Agreement") dated December 15, 2020 with Pontifax Medison Finance (Israel) L.P. and Pontifax Medison Finance (Cayman) L.P. (collectively, the "Lenders") and Pontifax Medison Finance GP, L.P., in its capacity as administrative agent and collateral agent for itself and Lenders. The motivation for entering into the Amendment was to potentially further extend the Company's cash runway by allowing the remaining amounts owed under the loan to be satisfied with stock in lieu of cash. The Amendment reduced the conversion price with respect to the remaining principal amount under the Loan Agreement to (a) $3.81 for the first 501,648 shares of the Company's common stock issuable upon conversion following October 7, 2024 and (b) $4.23 with respect to all shares of the Company's common stock issuable in excess of the first 501,648 shares so issued. None of the other terms of the Loan Agreement were modified in any material respect. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein by reference. 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 above in Item 1.01 of this Current Report on Form 8-K regarding the financial obligations of the Company under the Loan Agreement, as amended by the Amendment, is incorporated into this Item 2.03 by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Amendment to Loan and Security Agreement dated as of October 8, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE 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. Soligenix, Inc. October 11, 2024 By: /s/ Christopher J. Schaber Christopher J. Schaber, Ph.D. President and Chief Executive Officer (Principal Executive Officer) 3