Company: MLTX
Filing Date: 2025-04-03
Form Type: 8-K
Source: 0001213900-25-028366
Chunk: 1

Company: MoonLake Immunotherapeutics
Filing Date: 2025-04-03
Form: 8-K
Item: Item 1.01
Chunk 1
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 Company’s achievement of Tranche 3 Milestone and the U. S. Food and Drug Administration’s
acceptance of the Company’s submission of a biologics license application for SLK (collectively, “ Tranche 4 Milestone”),
a fourth tranche consisting of additional term loans in an aggregate principal amount of up to $50.0 million, available at the Company’s
option beginning on the date that the Tranche 4 Milestone is achieved through the earlier of (i) 60 days following such date and (ii)
March 15, 2027, and (e) subject to approval by the Lenders’ in their discretion, a fifth tranche of additional term loans in an
aggregate principal amount of up to $200.0 million. The Credit Facility matures on April 1, 2030 (the “ Maturity Date”) and
bears interest at an annual rate equal to the greater of (i) prime rate as reported in The Wall Street Journal plus 1.45% and (ii) 8.45%,
subject to a 0.25% reduction upon achievement of the U. S. Food and Drug Administration’s acceptance of a biologics license application
for SLK. Certain additional commitment and undrawn amount fees are also payable in connection with the Credit Facility.

The Company is permitted to
use the proceeds of the Credit Facility for working capital and general corporate purposes of the Company and its subsidiaries.

The Credit Facility does not
provide for scheduled amortization payments during the term. All principal will be due on the Maturity Date. The Company may, at its option
at any time, prepay all loans under the Credit Facility by paying the principal balance, plus accrued and unpaid interest, subject to
(i) a prepayment premium equal to a range of 2.0% to 0.0% and (ii) an end of term charge equal to a range of 6.95% to 4.25%, each based
on when the prepayment occurs. If the Credit Facility is repaid in full as a result of a change of control of the Company, the prepayment
premium shall be waived.

All obligations under the Loan
and Security Agreement will be secured on a first-priority basis, subject to certain exceptions, by security interests in substantially
all assets of the Company and material subsidiaries of the Company, including its intellectual property, and will be guaranteed by material
subsidiaries of the Company, including