Soligenix Inc. filed SEC Form 8-K: Termination of a Material Definitive Agreement
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Item 1.02 Termination of a Material Definitive Agreement.
On February 5, 2025, Soligenix, Inc. (the “Company”) and its subsidiaries repaid in full all outstanding obligations due under, and terminated, the Loan and Security Agreement (as previously amended, the “Loan Agreement”) dated December 15, 2020 with Pontifax Medison Finance (Israel) L.P. and Pontifax Medison Finance (Cayman) L.P. (collectively, the “Lenders”) and Pontifax Medison Finance GP, L.P., in its capacity as administrative agent and collateral agent for itself and Lenders, relating to certain term loans issued pursuant to the Loan Agreement. Upon the termination and repayment in full of all outstanding obligations under the Loan Agreement, all related liens and security interests securing the Company’s obligations under the Loan Agreement were terminated and released. The Company did not incur any prepayment penalty with respect to the early repayment.
In connection with the Company’s early repaying of the obligations under the Loan Agreement, Shlomo Karako, the Partner of the Lenders, stated "Pontifax provided a $10 million loan to Soligenix over four years ago, and throughout this period, we have greatly valued our positive collaboration with the company. Their professionalism and willingness to find creative solutions have been truly commendable. We are pleased to have supported Soligenix and look forward to potential future cooperation."
The material terms and conditions of the Loan Agreement were described in the Company’s Current Report on Form 8-K filed on December 16, 2020, Current Report on Form 8-K filed on April 19, 2023, and Current Report on Form 8-K filed on October 11, 2024, and such descriptions are incorporated herein by reference.
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SIGNATURE
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 hereunto duly authorized.
| Soligenix, Inc. | |
February 10, 2025 | By: | /s/ Christopher J. Schaber |
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| Christopher J. Schaber, Ph.D. |
President and Chief Executive Officer | ||
(Principal Executive Officer) | ||
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