ATHENEX, INC. such as entering into a material definitive agreement, creating a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant, triggering events that accelerate or increase a direct financial obligation or an obligation under Off-Balance Sheet Arrangement (Form 8-K)

Section 1.01 Entering into a Material Definitive Agreement.

At January 19, 2022, Athens, Inc. (the “Company”) has entered into an amendment (the “Amendment”) to the Credit and Guarantee Agreement (“Credit Agreement”) with
Oaktree Fund Administration, LLC (as administrative agent for the Lenders, “Oaktree”) and other lender parties thereto (collectively, the “Lenders”). The amendment also changed the warrants held by the lenders which were issued on
June 19, 2020 and August 4, 2020 (the “Warrants”).

The amendments to the credit agreement will become effective if the closing of the sale by the company of its leasehold interest in the manufacturing plant of
Dunkirk, New York (the “Dunkirk Facility”) and certain other related assets (the “Dunkirk Transaction”) close no later than February 14, 2022. The Amendment provides that the Company will make a mandatory prepayment of principal to the Lenders equal to 62.5% of the cash proceeds of the Dunkirk Transaction. The Company is also liable to pay (i) accrued and unpaid interest and (ii) a commission of 7.0%, broken down as a 2.0% exit commission and a prepayment commission. 5.0% (each as defined in the credit agreement), on the principal amount being repaid. The Company is required to pay the Lenders a modification fee $275,000 and certain expenses related to the closing of the Dunkirk Operation.

The Amendment obliges the Company to make an additional compulsory advance payment of
$12.5 million in principal plus the fees and commissions described above within 120 days of the closing of the Dunkirk Operation. In accordance with the Company’s decision not to pursue regulatory approval of oral paclitaxel monotherapy for the treatment of metastatic breast cancer in United States at that time, the Amendment reduced to zero the amount of the last two borrowing tranches that had been available under the Commercial Milestone Credit Agreement.

The warrants have been amended to change the exercise price to be paid per share upon exercise of the warrants. The initial exercise price of the warrants was $12.63
per share. The amendment provides that the exercise price of 50% of the shares underlying the warrants will be the lower of (i) $12.63 per share and (ii) the 30-day volume weighted average trading price of the ordinary shares of the Company on the closing date of the Dunkirk Transaction, or, if the Dunkirk Transaction does not close by February 14, 2022then the 30 day volume weighted average price January 14, 2022. The exercise price of the remaining 50% of the warrants was not changed by the amendment. Changes to the Warrants will occur regardless of the time or closing date of the Dunkirk Operation.

The above summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which will be filed as an attachment to the Company’s Annual Report on Form 10- K and is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under a

Off-balance sheet arrangement of a registrant.

The information contained in Section 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

Item 2.04 Triggering events that accelerate or increase a direct cash flow

Obligation or an obligation under an off-balance sheet arrangement.

The information contained in Section 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

Caution Regarding Forward-Looking Statements

Except for historical information, all statements, expectations and assumptions contained in this Current Report on Form 8-K are forward-looking statements. These forward-looking statements are generally identified by terms such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “expect”, “objective”, “guidance”, “intend to,” “likely,” “may,” “plan,” “potential,” “predicted,” “preliminary,” “likely,” “project,” “promising,” “research,” “should “, “will”, “would” and similar expressions. Actual results may differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially include: the timing or opportunity for the Company to complete the sale of its stake in the Dunkirk facility, the stage of development of its lead clinical candidates, including NKT cell therapy and associated risks related to drug development, clinical trials, regulatory , the uncertainties surrounding regulatory reviews and approvals; the Company’s ability to develop its

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manufacturing and commercial supply operations for current and future approved products, and ability to commercialize its products, once approved; ability to successfully demonstrate the safety and efficacy of its drug candidates and to obtain timely approval of its drug candidates, as required; the preclinical and clinical results of the Company’s drug candidates, which may not support the further development of these drug candidates; risks relating to the Company’s ability to successfully integrate the activities of Kuur Therapeutics into its existing business, including uncertainties associated with maintaining relationships with customers, suppliers and employees, as well as differences in operations, cultures and management philosophies that may delay successful integration and the ability to bear the additional cost burden of Kuur’s business; risks relating to the performance of counterparties, including the Company’s dependence on third parties to succeed in certain areas of its business; the Company’s operating loss history and its need and ability to raise additional capital to continue operations; uncertainties surrounding the Company’s ability to enter into new financing agreements as it is unable to meet the conditions of financing under existing financing agreements and access capital thereunder; the risks and uncertainties inherent in litigation, including purported shareholder class actions; risks and uncertainties related to the COVID-19 pandemic and its continued impact on the Company’s operations, supply chain, cash flows and financial condition; competetion; intellectual property risks; uncertainties surrounding the Company’s ability to successfully integrate the acquired and merged businesses in a timely and cost-effective manner and to realize synergies; the risks associated with conducting business internationally and in China; the risk of development, operational delays, production slowdowns or stoppages or other disruptions at manufacturing facilities as well as the Company’s ability to find alternative sources of supply to meet its obligations and its needs ; and other risk factors set forth from time to time in documents filed by the Company with the Security and Exchange Commission, copies of which are available free of charge at or on request from the Company’s Investor Relations Department. All information provided in this release is as of the date hereof and the Company undertakes no obligation and does not intend to update these forward-looking statements, except as required by law.

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