Company: VERA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029969
Chunk: 152

Company: Vera Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 152
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 )

        Non-current operating lease liabilities
         
        $
        2,468

       As of December 31, 2024, under the terms of the sublease agreement of the South San Francisco facility to a third party, the Company is entitled to receive sublease payments of $1.5 million in 2025, and the Company remains responsible for future lease payments of $1.9 million under the terms of the lease for this facility. As of December 31, 2024, the Company had not executed any leases that were yet to commence.

6. NOTES PAYABLE Notes payable consist of the following (in thousands): 

        December 31,

        2024

        2023

        Maturity
         
        Effective Interest Rate
         
        Amount

        Effective Interest Rate
         
        Amount

        Collateralized note 2021-12
         
        2027
         
        13.96%
         
        $
        5,000

        14.73%
         
        $
        5,000

        Collateralized note 2022-11
         
        2027
         
        14.09%

        20,000

        14.87%

        20,000

        Collateralized note 2023-12
         
        2027
         
        14.59%

        25,000

        15.37%

        25,000

        Total borrowings

        50,000

        50,000

        Accrued exit fee net of unamortized issuance costs

        687

        (123
        )

        Net carrying amount of debt

        $
        50,687

        $
        49,877

      In December 2021, the Company entered into a non-revolving loan and security agreement (the Loan Agreement) with Oxford Finance. The Loan Agreement has a borrowing capacity of up to $50.0 million, of which $5.0 million was funded in December 2021, with the remaining credit facility available for draw until December 2022, with maturity of the outstanding balance in December 2026. In November 2022, the Company entered into an amendment of the Loan Agreement. Among other changes, the amendment extended the scheduled expiration of the Loan Agreement from December 2022 to December 2023 and modified the reference