UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On January 16, 2025, T2 Biosystems, Inc. (the “Company”) entered into Amendment No. 12 to Term Loan Agreement (the “Twelfth Amendment”), with CRG Servicing LLC as administrative agent and collateral agent (in such capacities, “Administrative Agent”) and the lenders listed on the signature pages thereto to modify certain terms of that certain Term Loan Agreement, dated as of December 30, 2016, by and among the Company, the Administrative Agent and the lenders party thereto.
The Twelfth Amendment waives certain events of default under the Term Loan Agreement; permits interest payable under the loans to be paid entirely in-kind on the maturity date; increases the final payment fee from 10% to 14%; extends the interest-only payment period from December 31, 2025 to March 31, 2026; and extends the maturity date from December 31, 2025 to March 31, 2026.
The foregoing summary is qualified in its entirety by reference to the Twelfth Amendment, a copy of which will be attached as an exhibit to the Company’s Quarterly Report on Form 10-K for the period ending December 31, 2024.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: January 17, 2025 | T2 BIOSYSTEMS, INC. | |||||
| By: | /s/ John Sprague | |||||
| John Sprague | ||||||
| Chief Financial Officer | ||||||