Welcome to our dedicated page for Madrigal Pharmac SEC filings (Ticker: MDGL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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AIM ImmunoTech (AIM) is conducting a Rule 424(b)(5) best-efforts offering of up to 2 million Units at $4.00 each, composed of one share (or pre-funded warrant) plus one Class E (5-yr) and one Class F (18-mo) warrant, for $8.0 m gross / ~$7.1 m net proceeds after 7% placement fee and expenses. Post-deal share count could rise from 764,188 to 2,764,188 (no warrant exercise), producing immediate dilution of $3.63/share. A further 100 k placement-agent warrants will be issued at 110% of the offer price.
Funds are earmarked (illustrative 100% raise) for:
- 37% payment of outstanding & future payables
- 32% clinical programs (Ampligen cancer, ME/CFS, Post-COVID, antiviral and vaccine adjuvant studies)
- 26% working capital
- 5% manufacturing
The company has a stockholders鈥� deficit of 鈭�$3.9 m (3/31/25) and $2.2 m cash. AIM is non-compliant with NYSE American鈥檚 $6 m equity rule; a plan to regain compliance must succeed by 11 Jun 2026 or shares risk delisting. A 1-for-100 reverse split became effective 12 Jun 2025 to restore trading on NYSE American.
Recent financing includes a $310 k unsecured bridge note due Oct-2025 and a prior $3.3 m Streeterville note (matures Feb-2026). The prospectus emphasises going-concern risk, absence of escrow/minimum raise, limited warrant liquidity and heavy potential dilution.
Madrigal Pharmaceuticals (MDGL) filed an 8-K disclosing a new $500 million senior secured credit facility arranged by Blue Owl funds on 17 Jul 2025. The package consists of (i) a $350 million initial term loan funded at closing, (ii) $150 million in delayed-draw commitments available through 31 Dec 2027, and (iii) an uncommitted $250 million incremental accordion. All borrowings mature on 17 Jul 2030 and are guaranteed by subsidiaries, with a first-priority lien on substantially all company assets.
Key terms & implications
- Interest options: Base rate (鈮�2.0%) + 3.75% or 3-mo Term SOFR (鈮�1.0%) + 4.75%; interest payable quarterly.
- Prepayment allowed at any time; maximum make-whole/penalty of 3%.
- Covenants: minimum $100 million unrestricted cash, customary affirmative/negative covenants, and change-of-control default.
- Proceeds repaid the May 2022 Hercules facility, retiring $121.6 million (principal $115 million plus interest/fees) and releasing all related liens.
- Facility boosts liquidity for clinical, regulatory and commercial plans while increasing leverage, incurring high-single-digit effective cost of capital and granting lenders tight collateral and covenant protection.