UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01. | Other Events. |
On July 21, 2023, Journey Medical Corporation (the “Company”) voluntarily repaid approximately $10 million of principal, plus accrued interest and fees, under the Loan and Security Agreement, dated March 31, 2021 (as amended, the “EWB Credit Agreement”), between the Company, its subsidiary JG Pharma, Inc., and East West Bank (“EWB”). The repayment satisfied all of the Company’s outstanding debt obligations under the EWB Credit Agreement, and resulted in an automatic termination of the EWB Credit Agreement pursuant to the terms thereof. The Company did not incur any prepayment fees or penalties as a result of the foregoing transactions.
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.
Journey Medical Corporation | ||
(Registrant) | ||
Date: July 26, 2023 | ||
By: | /s/ Claude Maraoui | |
Claude Maraoui | ||
Chief Executive Officer, President and Director | ||