09/26/2025 | Press release | Distributed by Public on 09/26/2025 14:45
Item 1.01 |
Entry into a Material Definitive Agreement. |
Previously, on October 20, 2024, Quince Therapeutics, Inc. (the "Company"), entered into an Accession, Amendment, and Restatement Agreement to the Finance Contract dated July 24, 2020, by and between the Company, EryDel Italy, Inc., EryDel US, Inc., EryDel USA, Inc., EryDel S.p.A., and the European Investment Bank, in respect of an unsecured credit facility (the "EIB Facility").
On September 25, 2025, the Company entered into an amendment to the EIB Facility (the "Amendment"), providing that (i) for the period from January 1, 2026 to March 31, 2026 (the "Amendment Period"), the Company's required minimum cash balance will be reduced from EUR 14,650,000 to EUR 5,000,000 and (ii) during the Amendment Period, out of the overall 9% Deferred Interest Rate (as defined in the EIB Facility) due in respect of Tranche A and Tranche B under the EIB Facility, 1% will be converted into Fixed Rate (as defined in the EIB Facility) to be paid on March 31, 2026 in respect of Tranche A and Tranche B.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which will be filed as an exhibit to the Quarterly Report on Form 10-Qfor the period ending September 30, 2025.
Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-BalanceSheet Arrangement of a Registrant. |
The disclosure included in Item 1.01 of this Current Report on Form 8-K isincorporated into this Item 2.03 by reference.