Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 262

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 262
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 have an initial term of one year with an extension up to five years at Innate’s option. They are 90% guaranteed by the French state (“ PGE”) as part of the package of measures put in place by the French government to support companies during the COVID-19 pandemic.

In August 2022, the Company requested the extension of these two loans repayment for an additional period of five years starting in 2022 and including a one-year grace period (2023). Consequently, the Company has obtained agreements from Société Générale and BNP Paribas. The effective interest rates applied to these contracts during the additional period are 1.56% and 0.95% for Société Générale and BNP Paribas loans, respectively, excluding insurance and guarantee fees, with an amortization exemption for the entire year 2023. During this grace period, the Company was only liable for the payment of interest and the guarantee fees, with amortization of the two loans starting in 2024 over a period of four years.

The summaries provided above do not purport to be complete and are qualified in their entirety by reference to the complete agreements, which are attached as exhibits to this Annual Report on Form 20-F. For additional information on its material contracts, please see “ Item 4. Information on the Company,” “ Item 6. Directors, Senior Management and Employees,” and “ Item 7. B. Related Party Transactions” of this Annual Report on 20-F.

D. Exchange Controls.

Under current French foreign exchange regulations there are no restrictions on the amount of cash transfers that may be made to residents of foreign countries (subject to the absence of any specific decision taken by the government otherwise). Laws and regulations concerning foreign exchange controls do, however, require that all payments or transfers of funds made by a French resident to a non-resident such as dividend payments be handled by an accredited intermediary. All registered banks and substantially all credit institutions in France are accredited intermediaries. For completeness, there is a reporting obligation to the custom officer for transfer of cash in banknotes and coins of €10,000 or more carried into, or out of, the European Union.

E. Taxation.

Material U. S. Federal Income Tax Considerations

The following describes material U. S. federal income tax considerations relating to the acquisition, ownership and disposition of the ordinary shares or ADSs by a U. S. holder (as defined below) who hold the ordinary shares or ADSs as capital assets