Aug. 13 at 12:01 AM
$SPRO
Under the terms of the NPA, Issuer sold to the NPA Purchasers, senior secured notes in an aggregate principal amount of
$105,000,000 (the "Notes”), which Notes (i) were issued net of an original issue discount in the amount of
$3,150,000, which, after giving effect to the RPA Purchase Price referenced below, reduces the aggregate
$105,000,000 in gross proceeds of the NPA and RPA by 1.5%, (ii) accrue interest at 10% per annum, which interest, to the extent not paid in cash from available GSK Proceeds (as defined below) in accordance with the terms of the NPA, is capitalized and added to the principal amount of the Notes on a quarterly basis and (iii) mature nine years after the Closing Date.
