Eton Pharmaceuticals amended its SWK Credit Agreement to reduce the interest rate to SOFR plus 6.55%, lower the SOFR floor to 2.75%, and extend the interest-only period to November 2026.
Key takeaways
Interest rate reduced by 20 basis points from SOFR plus 6.75% to SOFR plus 6.55%.
SOFR floor lowered significantly from 5.0% to 2.75%, potentially reducing interest expense.
Interest-only period extended to November 2026, allowing principal payment deferral.
No fees were paid to SWK Funding LLC in connection with this sixth amendment.
Credit agreement maturity date remains unchanged in December 2027.