SEC Form 8-K filed by Pliant Therapeutics Inc.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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| Item 1.02 | Termination of a Material Definitive Agreement |
On October 14, 2025, Pliant Therapeutics, Inc. (the “Company”) completed a voluntary prepayment of $32.4 million, representing all outstanding principal, accrued and unpaid interest, fees, costs and expenses (the “Payoff Amount”) under the Amended and Restated Loan and Security Agreement (the “Loan Agreement”) dated as of March 11, 2024 among the Company, Oxford Finance LLC, as collateral agent, and the lenders listed on Schedule 1.1 thereof or otherwise a party thereto. Upon receipt by Oxford of the Payoff Amount on October 14, 2025, all obligations, covenants, debts and liabilities of the Company under the Loan Agreement were satisfied and discharged in full, and the Loan Agreement and all other documents entered into in connection with the Loan Agreement were terminated.
The Loan Agreement provided for a series of term loans up to an aggregate principal of $150 million (the “Term Loans”). Under the Loan Agreement, the Company borrowed $30 million. The Term Loans accrued interest at a floating per annum rate to the greater of the 1-month term Secured Overnight Financing Rate and 3.5% plus 5.25%, subject to an agreed upon floor of 8.75%. Beginning on July 1, 2028, the Company was required to repay the Term Loans in consecutive equal monthly payments of principal, together with applicable interest, in arrears.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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PLIANT THERAPEUTICS, INC. | |||||
| Date: October 20, 2025 | By: | /s/ Keith Cummings | ||||
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Keith Cummings, M.D., MBA | ||||
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Chief Financial Officer | ||||