Altimmune draws $10 million Tranche Three under Hercules Capital loan facility
Altimmune said it drew the funds on October 27, 2026 after meeting a milestone tied to its $125 million loan agreement, extending the interest-only period to June 1, 2028.
Altimmune, Inc. disclosed in an 8-K filing that on October 27, 2026 it drew $10.0 million in aggregate principal amount, called Tranche Three, from its $125.0 million Loan and Security Agreement with Hercules Capital, Inc. and other lenders party to the agreement.1 The original loan agreement was dated May 13, 2025 and was later amended on November 5, 2025. The company said the Tranche Three funds became accessible after it met certain clinical and financial conditions specified in the loan agreement.
As a result of satisfying what the filing calls the Tranche 3 Milestone, two terms of the loan changed. The amortization date and interest-only period was extended to June 1, 2028, and under the minimum cash covenant in Section 7.19(a)(i) of the agreement, the company must now maintain qualified cash equal to at least 60% of the outstanding principal balance of its term loan advances.1
On fees, the filing states that a 1.0% tranche facility charge was deducted from the Tranche Three proceeds, while the end-of-term charge stays at 6.25% of all amounts funded under the agreement.1
The filing was signed by Chief Financial Officer Gregory Weaver and dated October 29, 2026.
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