On March 9, 2020, SIGA Technologies, Inc. (the “Company”) gave notice to terminate the Loan and Security Agreement (as amended from time to time, the “Loan Agreement”), dated September 2, 2016, by and among the Company, OCM Strategic Credit SIGTEC Holdings, LLC (the “Lender”), Cortland Capital Market Services LLC, in its capacity as administrative agent and collateral agent, OCM Strategic Credit SIGTEC Holdings, LLC, as sole lead arranger, and each of the other persons who are or thereafter become parties to the Loan Agreement as guarantors, and to voluntarily prepay the term loan facility (the “Term Loan”).

The prepayment in an approximate aggregate amount of $87.2 million will be made from restricted cash, including $80.0 million in respect of outstanding principal, $4.0 million that is payable upon the repayment of the Loan Agreement, approximately $1.2 million of accrued interest, and a prepayment premium amount of approximately $2.0 million. The prepayment will be made upon the Company and the Lender agreeing to and entering into customary mutual releases reflecting that all of the obligations under the Loan Agreement have been released, discharged and satisfied in full, which is expected to be upon or shortly after the expiration of a three business day notice period. Upon such prepayment and release, the Loan Agreement will be terminated.

For a description of the terms of the Loan Agreement, please see the Company’s Annual Report on Form 10-K filed on March 5, 2020.

About SIGA TECHNOLOGIES, INC. (OTCMKTS:SIGA)

SIGA Technologies, Inc. (SIGA) is engaged in the development and commercialization of solutions for various unmet medical needs and biothreats. The Company’s lead product is Tecovirimat, also known as ST-246, an orally administered antiviral drug that targets orthopoxviruses. Tecovirimat is a small-molecule drug delivered to the Strategic Stockpile under the Project BioShield Act of 2004 (Project BioShield). Tecovirimat is not approved by the United States Food and Drug Administration (FDA) as a treatment of smallpox or any other indication. Tecovirimat has Orphan Drug designation for both the treatment and prevention of smallpox, and the treatment of orthopoxvirus infections (vaccinia, variola, monkeypox and cowpox). The Company uses contract manufacturing organizations (CMOs) to procure commercial raw materials and supplies, and to manufacture Tecovirimat. The Company also has a lead pre-clinical drug candidate with activity against approximately four serotypes of the dengue virus.