Ardelyx draws $50 million Term F Loan under existing credit agreement

Ardelyx, Inc. disclosed in an 8-K filing that on June 29, 2026 it received $50.0 million of funding, called the Term F Loan, under a loan and security agreement originally entered into in February 2022 with SLR Investment Corp. as collateral agent and a group of lenders, an agreement that has since been amended in August 2022, February 2023, October 2023, October 2024, June 2025 and April 2026.¹

The company said it elected to draw down the Term F Loan for general corporate purposes and to enhance flexibility to support its ongoing strategic initiatives, in line with its capital allocation strategy.¹

Under the terms disclosed, the Term F Loan matures on July 1, 2030 and carries an interest rate equal to 4.55% plus the greater of the 1-month SOFR reference rate or 3.5%, with Ardelyx permitted to make interest-only payments until the maturity date.¹

The filing also outlines standard default provisions. The agreement contains customary events of default that would let the agent declare the company's debt immediately due and exercise remedies against Ardelyx's collateral, including its cash.¹ A default could be triggered by missed payments, covenant breaches, a lender determination of a material adverse change, certain legal proceedings such as bankruptcy, inability to pay debts as they come due, or defaults on other contracts that could accelerate other indebtedness or cause a material adverse change.¹ If a default occurs, an additional 4.0% per annum default interest rate would apply to all obligations under the agreement.¹

The report was signed on July 2, 2026 by Ardelyx Chief Financial Officer Susan Hohenleitner.