CalciMedica, Inc. has amended its existing $10 million Loan and Security Agreement with Avenue Venture Opportunities Fund II, L.P. The amendment extends key repayment deadlines, modifies equity-linked provisions, and provides additional warrants to the lender in exchange for more favorable loan terms.
Key Details
- Loan Term Extensions: The interest-only period was extended by one year to September 30, 2027, and the final loan maturity date was extended one year to September 1, 2029.
- New Warrant Issuance: CalciMedica issued a new warrant to the lender to purchase 1,000,000 shares of common stock at an exercise price of $1.00 per share, exercisable until June 23, 2031.
- Modified Equity Rights: The lender's option to convert principal into equity was increased from $1 million to $3 million. Additionally, the exercise price on a prior warrant for 641,163 shares was reduced from $2.32 to $1.00.
- Increased Final Payment: The final payment fee due to the lender upon maturity or full prepayment was increased by $200,000.