On December 22, 2022, Aldeyra Therapeutics, Inc. ("Aldeyra" or the "Company") entered into the Second Amendment (the "Second Amendment") to Loan and Security Agreement, which is effective as of December 31, 2022 (the "Effective Date") and amended that certain Loan and Security Agreement, dated as of March 25, 2019, by and among the Company, Helio Vision, LLC, the several banks and other financial institutions or entities from time to time parties thereto (the "Lenders") and Hercules Capital, Inc., in its capacity as administrative agent and collateral agent for itself and the Lenders (the "Original Loan Agreement" and as previously amended and as amended by the Second Amendment, the "Loan Agreement") (Filing, 8-K, Aldeyra Therapeutics, DEC 22, 2022, View Source [SID1234625608]).

The Second Amendment makes certain changes to the Loan Agreement, including, among other things, (i) extending the expiration of the period in which interest-only payments on borrowings under the Loan Agreement are made from May 1, 2023 to May 1, 2024; (ii) extending the Term Loan Maturity Date (as defined in the Loan Agreement) from October 1, 2023 to October 1, 2024; (iii) extending the availability of the fourth term loan tranche commitment of $20 million from May 1, 2023 to May 1, 2024; and (iv) amending the Prepayment Charge (as defined in the Loan Agreement) to equal 0.75% of the amount prepaid during the 12-month period following the Effective Date, and 0% thereafter. In addition, a supplemental end of term charge of $292,500 shall be due on the earlier of (A) Term Loan Maturity Date, as amended, or (B) repayment of the outstanding Advances. The existing end of term charge of $1,042,500 remains due on the earlier of (A) October 1, 2023 or (B) repayment of the outstanding Advances. The ability to draw the fourth term loan tranche commitment remains conditioned on approval by the Lenders’ investment committee.

The foregoing summary of the Original Loan Agreement and the Second Amendment does not purport to be complete and is qualified in its entirety by the complete text of the Original Loan Agreement and the Second Amendment, which are filed as Exhibit 10.1 and 10.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

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