MannKind Corporation (NASDAQ:MNKD) Files An 8-K Entry into a Material Definitive Agreement

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MannKind Corporation (NASDAQ:MNKD) Files An 8-K Entry into a Material Definitive Agreement

MannKind Corporation (NASDAQ:MNKD) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01

On June 18, 2019, MannKind Corporation (the “Company”) and MannKind LLC, the Company’s wholly owned subsidiary, entered into a Eleventh Amendment to Facility Agreement (the “Deerfield Amendment”) with Deerfield Private Design Fund II, L.P. and Deerfield Private Design International II, L.P. (“Deerfield”), to which the parties amended the Company’s Facility Agreement, dated July 1, 2013, as amended (the “Facility Agreement”), to defer the payment of $5.0 million in principal amount of the 9.75% senior secured convertible notes (the “July Payment”) issued in tranche 1 under the Facility Agreement from July 1, 2019 to August 31, 2019, conditioned upon, among other things, the Company, by no later than June 30, 2019, depositing an amount of cash equal to the July Payment into an escrow account until the July Payment has been satisfied in full (which amount will be subject to release to Deerfield on August 31, 2019 to satisfy the July Payment to the extent it remains unsatisfied as of August 31, 2019).

The foregoing description of the Deerfield Amendment does not purport to be complete and is qualified in its entirety by reference to the Deerfield Amendment, a copy of which is attached as Exhibit 99.1 to this report.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1    Eleventh Amendment to Facility Agreement, dated June 18, 2019


MANNKIND CORP Exhibit
EX-99.1 2 d765401dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Execution Version ELEVENTH AMENDMENT TO FACILITY AGREEMENT This ELEVENTH AMENDMENT TO FACILITY AGREEMENT (this “Amendment”) dated as of June 18,…
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About MannKind Corporation (NASDAQ:MNKD)

MannKind Corporation is a biopharmaceutical company. The Company is focused on the discovery and development of therapeutic products for diseases, such as diabetes. Its product candidate is AFREZZA, which is an inhaled insulin used to control high blood sugar in adults with type I and type II diabetes and helps in glycemic control. AFREZZA consists of a dry formulation of human insulin delivered from a portable inhaler. AFREZZA utilizes its Technosphere formulation technology. Technosphere is a drug delivery platform that may allow the oral inhalation of a range of therapeutics. Technosphere powders are based on the Company’s fumaryl diketopiperazine (FDKP), which is a potential of Hydrogen (pH)-sensitive organic molecule that self-assembles into small particles under acidic conditions. The Company has also created a range of breath-powered, dry powder inhalers. Its inhalers can be produced in both a reusable (chronic treatment) and a single-use (acute treatment) format.