Fate therapeutics, inc. announces repayment of full all outstanding obligations under the loan and security agreement dated july 30, 2014, as amended by the first amendment dated july 14, 2017

On november 13, 2019, fate therapeutics, inc. repaid in full all outstanding obligations under the loan and security agreement dated july 30, 2014, as amended by the first amendment dated july 14, 2017 (together, the loan agreement), between the company and silicon valley bank (the bank). the company used cash on hand in the amount of approximately $14.2 million for the repayment of such obligations and fees and expenses related thereto. accordingly, among other things, all of the company's obligations under the loan agreement and all related documents have been paid and discharged in full, any and all unfunded commitments by the bank to make credit extensions or other financial accommodations under the loan agreement have been terminated, and all security interests and other liens granted by the company to the bank to secure the company's obligations under the loan agreement have been terminated and automatically released (other than with respect to customary provisions and agreements that are expressly specified to survive the termination).
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