Company: VERA
Filing Date: 2025-06-03
Form Type: 8-K
Source: 0001193125-25-133730
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Company: Vera Therapeutics, Inc.
Filing Date: 2025-06-03
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On June 2, 2025 (the “ Effective Date”), Vera Therapeutics, Inc. (the “ Company”) entered into a Loan and Security Agreement (the “ Agreement”) with Oxford Finance LLC, as collateral agent (in such capacity, the “ Collateral Agent”), and certain lenders from time to time party thereto (collectively, the “ Lenders”). The Agreement provides for term loans in an aggregate principal amount of up to $500.0 million.

Under the terms of the Agreement, the Lenders have agreed to make term loans to the Company in multiple tranches, subject to certain conditions. The initial tranche of $125.0 million will be fully available on June 4, 2025, of which $75.0 million will be funded on such date and the remaining $50.0 million may be drawn during 2026, with three additional tranches in an aggregate principal amount of up to $175.0 million available upon the achievement of specified milestones and conditions and one additional uncommitted tranche in an aggregate principal amount of up to $200.0 million available upon the mutual agreement of the Company and the Lenders.

The term loans bear interest at a floating per annum rate equal to the greater of (x) the1-MonthCME Term SOFR plus 4.95% and (y) 8.70%. The term loans mature on June 1, 2030, or June 1, 2031, depending on the achievement of certain milestones. The Company is required to make monthly payments of interest only until August 1, 2029 (if the maturity date is June 1, 2030), or until August 1, 2030 (if the maturity date is June 1, 2031), after which monthly payments of principal and interest will be due.

The Agreement includes customary representations, warranties, and covenants, including financial covenants requiring the Company to maintain certain liquidity levels or loan coverage ratios, as applicable. The Agreement also includes events of default, which, if triggered, could result in the acceleration of the Company’s repayment obligations.

The Company granted the Collateral Agent a security interest in substantially all of its assets, excluding, as of the Effective Date, intellectual property, to secure its obligations under the Agreement.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full