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SNTA > SEC Filings for SNTA > Form 8-K on 2-Dec-2013All Recent SEC Filings




Entry into a Material Definitive Agreement, Financial Statements and E

ITEM 1.01 Entry into a Material Definitive Agreement.

On November 25, 2013, Synta Pharmaceuticals Corp. (the "Company") and its wholly owned subsidiary, Synta Securities Corp., as guarantor, entered into a Ninth Amendment, effective September 30, 2013 (the "Amendment"), to the Company's Loan and Security Agreement with General Electric Capital Corporation ("GECC"), in its capacity as agent for GECC and MidCap Funding III, LLC as lenders, dated September 30, 2010, as amended on November 9, 2010, March 3, 2011, July 1, 2011, January 23, 2012, July 30, 2012, December 6, 2012, December 14, 2012 and April 1, 2013 (the "GECC Term Loan"). The GECC Term Loan is secured by substantially all of the Company's assets, except its intellectual property. The GECC Term Loan also provides for a springing security interest in favor of GECC, as agent for the lenders, in the Company's intellectual property, which would be triggered in the event that the Company is not in compliance with certain cash usage covenants, as defined in the GECC Term Loan. The Amendment provides that the springing security interest in the Company's intellectual property may not be triggered until after November 29, 2013.

ITEM 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Number                                  Description

10.1      Ninth Amendment, dated as of November 25, 2013 to Loan and Security
          Agreement, dated as of September 30, 2010, as amended, by and among
          Synta Pharmaceuticals Corp., Synta Securities Corp., General Electric
          Capital Corporation, and MidCap Funding III, LLC.

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