MANNKIND CORP false 0000899460 0000899460 2020-08-21 2020-08-21

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event Reported): August 21, 2020

 

 

MannKind Corporation

(Exact Name of Registrant as Specified in Charter)

 

 

 

Delaware   000-50865   13-3607736

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification Number)

30930 Russell Ranch Road, Suite 300, Westlake Village, California 91362

(Address of Principal Executive Offices) (Zip Code)

(818) 661-5000

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Common Stock, par value $0.01 per share    MNKD    The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 


Item 1.01

Entry into a Material Definitive Agreement.

On August 21, 2020, MannKind Corporation (“MannKind”) and MannKind’s wholly owned subsidiary, MannKind LLC (collectively with MannKind, the “Company”), entered into an Amendment No. 2 to Credit and Security Agreement (the “MidCap Amendment”) with MidCap Financial Trust, as agent (“Agent”), and the lenders party thereto from time to time, pursuant to which the parties amended the Credit and Security Agreement, dated August 6, 2019 and amended on December 18, 2019 (the “MidCap Credit Facility”). Pursuant to the MidCap Amendment, the parties agreed that no breach of the minimum Afrezza Net Revenue (as defined in the MidCap Credit Facility) covenant for any twelve month period ending on a testing date occurring between and including July 31, 2020 and November 30, 2020 will be deemed to occur if the Company delivers satisfactory evidence to Agent that it had unrestricted cash of at least $40.0 million as of the applicable testing date.

The foregoing description of the MidCap Amendment is only a summary and is qualified in its entirety by reference to the MidCap Amendment, a copy of which is attached as Exhibit 99.1 to this report.

 

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit
No.

  

Description

99.1    Amendment No. 2 to Credit and Security Agreement, dated August 21, 2020, by and among MannKind Corporation, MannKind LLC and MidCap Financial Trust
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

   

MannKind Corporation

Date: August 25, 2020     By:  

/s/ David Thomson

      David Thomson, Ph.D., J.D.
      Corporate Vice President, General Counsel and Secretary