IBRX · ImmunityBio, Inc.

ImmunityBio has amended its existing Revenue Interest Purchase Agreement to secure an additional $75 million in non-dilutive financing, bringing total committed capital under the agreement to $375 million. This transaction represents a significant capital infusion that strengthens the company's balance sheet while avoiding equity dilution. The amendment increases the revenue interest payment rate to purchasers from a previous tiered range of 4.5% to 10.0% to a new range of 5.625% to 12.50% of net sales in the Covered Territory, which includes all global markets except China, Hong Kong, and territories controlled by China. This higher payment rate reflects the additional capital provided while maintaining the existing structure where payments are tied directly to product sales performance. The agreement includes adjustment mechanisms based on cumulative payments reaching $375 million by the end of 2029, with potential rate decreases if this threshold is met or increases if it is not, creating alignment between the company's sales performance and financing costs. Simultaneously, the conversion of $25 million of debt to equity by Nant Capital, an entity affiliated with Executive Chairman Dr. Patrick Soon-Shiong, reduces the company's debt burden while demonstrating insider confidence in the company's prospects. The combined transactions provide $100 million in financial benefits to ImmunityBio, supporting its global expansion efforts following recent regulatory approvals for ANKTIVA across multiple jurisdictions. The company's obligations under the agreement remain secured by substantially all assets of both the company and its subsidiary guarantors, maintaining the existing collateral structure while accessing additional capital.