Altimmune draws $10 million under Hercules Capital loan agreement
ALT•Altimmune drew $10 million on October 27, 2026, under a $125 million loan agreement with Hercules Capital and other lenders. The draw extended the interest-only period and amortization date to June 1, 2028, and changed the minimum cash covenant.
1. Loan draw and terms
Altimmune drew $10 million in Tranche Three under its $125 million loan agreement with Hercules Capital and other lenders. After meeting clinical and financial milestones, the company extended the interest-only period and amortization date to June 1, 2028. The minimum cash covenant now requires qualified cash equal to at least 60% of outstanding Term Loan Advances principal; a 1% tranche facility charge was deducted, and the end-of-term charge remains 6.25% of amounts funded.
