Rigel Pharmaceuticals, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
Dec. 31, 2021
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS Second Amendment to Credit Facility with MidCap On February 11, 2022, we entered into Second Amendment to our Credit Agreement with MidCap, among other things, amend the applicable funding conditions, applicable commitments and certain other terms relating to available credit facilities (Tranches 3 and 4), add additional term loan credit facility (Tranche 5), and revise certain terms related to the financial covenants. Following the amendment, the Credit Agreement gives us the ability to access the following available credit facilities: (i) on the closing date of the Second Amendment, $10.0 million term loan facility (Tranche 3), (ii) until August 31, 2022, an additional $10.0 million aggregate principal amount of term loan facility at our option (Tranche 4), and (iii) until March 31, 2023, an additional $20.00 million term aggregate principal amount of term loan facility subject to the satisfaction of applicable funding conditions which include minimum net revenue and compliance with financial covenants set forth in the Credit Agreement. At the Second Amendment effective date, $10.0 million was funded (Tranche 3).

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2021

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

15. SUBSEQUENT EVENTS

Second Amendment to Credit Facility with MidCap

On February 11, 2022, we entered into Second Amendment to our Credit Agreement with MidCap, among other things, amend the applicable funding conditions, applicable commitments and certain other terms relating to available credit facilities (Tranches 3 and 4), add additional term loan credit facility (Tranche 5), and revise certain terms related to the financial covenants. Following the amendment, the Credit Agreement gives us the ability to access the following available credit facilities: (i) on the closing date of the Second Amendment, $10.0 million term loan facility (Tranche 3), (ii) until August 31, 2022, an additional $10.0 million aggregate principal amount of term loan facility at our option (Tranche 4), and (iii) until March 31, 2023, an additional $20.00 million term aggregate principal amount of term loan facility subject to the satisfaction of applicable funding conditions which include minimum net revenue and compliance with financial covenants set forth in the Credit Agreement. At the Second Amendment effective date, $10.0 million was funded (Tranche 3).