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CEMP > SEC Filings for CEMP > Form 8-K on 2-Apr-2014All Recent SEC Filings

Show all filings for CEMPRA, INC.

Form 8-K for CEMPRA, INC.


Entry into a Material Definitive Agreement, Other Events, Financial Statements and E

Item 1.01. Entry into a Material Definitive Agreement.

On March 27, 2014, Cempra, Inc. entered into an Amendment No. 3 to Loan and Security Agreement ("Amendment No. 3") with Hercules Capital Funding Trust 2012-1 ("Hercules Trust") and Hercules Technology Growth Capital, Inc. ("HTGC" and, together with Hercules Trust, "Hercules"), pursuant to which Hercules agreed to provide us with additional credit of $3.0 million upon our request, provided we meet all conditions precedent to requesting an advance. Hercules also agreed to extend the period during which we will be required to make interest only payments by one year to May 31, 2015. We paid Hercules a facility charge of $30,000 at closing. All other terms of the Loan and Security Agreement, as previously amended, remain in full force and effect, without any modification.

The foregoing is a summary of the terms of Amendment No. 3 and does not purport to be complete and is qualified in its entirety by reference to the full text of Amendment No. 3, a copy of which is attached hereto as Exhibit 10.23 and is incorporated by reference herein.

Item 8.01. Other Events.

On March 27, 2014, we issued a press release announcing our presentation of a late-breaker on solithromycin reducing inflammation in an animal model for cancer chemotherapy-induced lung injury. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

  No.                                    Description

10.23       Amendment No. 3 to Loan and Security Agreement, dated March 27, 2014,
            by and among Cempra, Inc., and each of its subsidiaries signatory
            thereto, and Hercules Capital Funding Trust 2012-1, as a lender and
            Hercules Technology Growth Capital, Inc., as a lender and as an agent
            for the lenders.

99.1        Press release dated March 27, 2014.

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