MiNK Therapeutics Reports New Material Agreement & Financial Obligation

TL;DR

**MiNK Therapeutics just reported a new material agreement and financial obligation, but the key details are missing from this filing.**

AI Summary

MiNK Therapeutics, Inc. filed an 8-K on February 14, 2024, reporting an event that occurred on February 12, 2024. The filing indicates the company entered into a material definitive agreement and created a direct financial obligation or an off-balance sheet arrangement. Specific details regarding the parties involved, the nature of the agreement, or any dollar amounts were not provided in this excerpt.

Why It Matters

This filing signals a significant change in MiNK Therapeutics' financial or operational structure, potentially impacting its future liabilities, assets, or strategic direction. Investors need to understand the terms of these agreements to assess the company's financial health and prospects.

Risk Assessment

Risk Level: medium — The filing indicates a new financial obligation without providing any details on its nature, size, or impact, creating uncertainty for investors.

Key Players & Entities

• MiNK Therapeutics, Inc. (company) — Registrant
• AgenTus Therapeutics, Inc. (company) — Former Company Name

FAQ

Key Financial Figures

• $0.00001 — ch registered Common Stock, par value $0.00001 per share INKT The Nasdaq Stock Mar
• $5.0 million — y Note in the principal amount of up to $5.0 million (the "Note"). The Purchase Agreement se

Filing Documents

• inkt-20240212.htm (8-K) — 37KB
• 0000950170-24-014944.txt ( ) — 151KB
• inkt-20240212.xsd (EX-101.SCH) — 25KB
• inkt-20240212_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On February 12, 2024, MiNK Therapeutics, Inc. (the "Company") and Agenus Inc. ("Agenus") entered into a Convertible Promissory Note Purchase Agreement (the "Purchase Agreement") pursuant to which the Company issued to Agenus a Convertible Promissory Note in the principal amount of up to $5.0 million (the "Note"). The Purchase Agreement sets forth the terms and conditions, including representations and warranties, for the Company's issuance and sale of the Note to Agenus. The Company may draw down on the principal amount of the Note from time to time with Agenus's consent in any increment, either in the form of advancements or payments made by Agenus on the Company's behalf. The Note carries an annual rate of interest rate of 2% (the "Interest Rate") that accrues from the date funds are paid or advanced by Agenus to the Company. Interest shall accrue and not be payable until converted or paid in connection with the repayment in full of the principal amount of the Note. The Note provides that the Company will pay Agenus on demand the principal amount outstanding, together with any unpaid interest, on or after January 1, 2026. In the event of a qualified financing event, as described in the Note, at Agenus's election, the Company must pay the principal amount outstanding and any unpaid interest, either in full or in the form of equity securities. The foregoing summary of the terms of the Purchase Agreement and the Note does not purport to be complete and is qualified in its entirety by reference to the Purchase Agreement and the Note, which will be filed as exhibits to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosures set forth in Item 1.01 with respect to the Purchase Agreement and the Note are hereby incorporated into this Item 2.03 b

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. Date: February 14, 2024 By: /s/ Jennifer S. Buell, Ph.D. Jennifer S. Buell, Ph.D. President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR