Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Entry into a Material Definitive Agreement
On April 20, 2018, our wholly-owned subsidiary, Lex-Gen Woodlands, L.P. (“Lex-Gen Woodlands”), entered into a Seventh Amendment to Loan and Security Agreement and to Other Loan Documents (the “Amendment”) with iStar Lex Lender LLC (“Lender”), amending the terms of the Loan and Security Agreement, dated April21, 2004, between Lex-Gen Woodlands and iStar Financial, Inc. (“iStar”), as previously amended (the “Loan Agreement”) and certain other related agreements. The rights and obligations of iStar under the Loan Agreement had previously been assigned to Lender.
The Amendment (a) extends the maturity date of the mortgage on our facilities in The Woodlands, Texas from April 2018 to October 2018 and (b) provides that we will maintain liquid assets of at least $75 million. Under the Amendment, the mortgage loan’s monthly payment amount and fixed interest rate are each unchanged and a balloon payment of $12.2 million will be due in October 2018 in lieu of the balloon payment of $13.4 million which would have been due in April 2018.
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Item 9.01 |
Financial Statements and Exhibits |
(d)Exhibits
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Exhibit No. |
Description |
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10.1 |
Seventh Amendment to Loan and Security Agreement and to Other Loan Documents, dated April 20, 2018, between Lex-Gen Woodlands, L.P. and iStar Lex Lender LLC |
LEXICON PHARMACEUTICALS, INC. ExhibitEX-10.1 2 exhibit101-seventhamendtom.htm EXHIBIT 10.1 Exhibit Exhibit 10.1SEVENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT AND TO OTHER LOAN DOCUMENTSTHIS SEVENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT AND TO OTHER LOAN DOCUMENTS (this “Amendment”) is made as of April 20,…To view the full exhibit click here
About Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)
Lexicon Pharmaceuticals, Inc. (Lexicon) is a biopharmaceutical company. The Company focuses on the development of treatments for human disease. The Company is engaged in the development of two drug candidates: telotristat etiprate (LX1032) and sotagliflozin (LX4211). The Company’s telotristat etiprate, is an orally delivered small molecule drug candidate, as a treatment for carcinoid syndrome. LX1032 inhibits tryptophan hydroxylase (TPH), which is an orally-delivered small molecule compound that the Company is developing for the treatment of carcinoid syndrome. Sotagliflozin, or LX4211, which is an orally-delivered small molecule compound that the Company is developing for the treatment of type 1 and type 2 diabetes mellitus. LX2761 is an orally-delivered small molecule compound for the treatment of diabetes. LX9211 is an orally-delivered small molecule compound for the treatment of neuropathic pain. The Company’s other programs include LX1033, LX2931 and LX7101.
