Delcath Systems Inc (DCTH)

[Bond]

beginning of another death spiral,
i.e. borrowing money to pay interest


Item 1.01.
Entry into a Material Definitive Agreement.

On April 19, 2019, Delcath Systems, Inc. (the “Company”) borrowed $180,000 from an institutional investor and issued a promissory note to the investor. The promissory note has a principal amount of $180,000, bears interest at the rate of 8% per annum and is due on October 18, 2019. The note contains standard events of default and remedies therefor. The Company’s obligations under the promissory note to the institutional investor are secured by a lien on the Company’s assets.