Brief: Akoya Biosciences Entered Into Amendment No. 2 To Credit & Security Agreement To Provide Additional Tranche Of Non-Dilutive Funding

Akoya Biosciences

02/06/2022 22:32

June 2 (Reuters) - Akoya Biosciences Inc  AKYA.O :
    * AKOYA BIOSCIENCES-ON JUNE 1, 2022 CO ENTERED INTO
AMENDMENT NO.
2 TO CREDIT & SECURITY AGREEMENT TO PROVIDE ADDITIONAL TRANCHE
OF NON-DILUTIVE FUNDING
    * AKOYA BIOSCIENCES INC - AMENDMENT PROVIDES THAT SECOND
TRANCHE
OF $10 MILLION WILL BE DRAWN ON JUNE 1, 2022
    * AKOYA BIOSCIENCES - AMENDMENT PROVIDES CO WITH THIRD
TRANCHE
PURSUANT TO WHICH CO MAY DRAW $10 MILLION ANY TIME AFTER SEPT
30, 2022 UNTIL SEPT 30, 2023
    * AKOYA BIOSCIENCES - AMENDMENT ALSO DELAYS AMORTIZATION
START
DATES FOR OUTSTANDING LOAN AMOUNTS FROM NOV 1, 2023 UNTIL APRIL
1, 2025
    * AKOYA BIOSCIENCES - AMENDMENT AMENDED INTEREST RATE
PAYABLE ON
TERM LOAN TO APPLY AN INTEREST RATE EQUAL TO SOFR RATE PLUS
6.35%

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