Foamix Pharmaceuticals Ltd (FOMX)

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On December 17, 2019, Foamix Pharmaceuticals Inc. (the “Borrower”), a direct wholly owned subsidiary of Foamix Pharmaceuticals Ltd. (the “Company”), drew down the second tranche of $20.0 million (the “Tranche 2 Loan”) under the previously disclosed Credit Agreement and Guaranty (the “Credit Agreement”), dated as of July 29, 2019, among the Company, the Borrower, the subsidiary guarantors from time to time party thereto, the lenders from time to time party thereto and Perceptive Credit Holdings II, LP, as Administrative Agent. As previously disclosed, the Credit Agreement provides for up to a $50.0 million term loan facility, $15.0 million of which was borrowed at closing on July 29, 2019 (the “Tranche 1 Loan”). The Tranche 1 Loan and the Tranche 2 Loan each have a maturity date of July 29, 2024, unless earlier prepaid. Pursuant to the Credit Agreement and subject to the achievement of certain revenue milestones prior to September 30, 2020, the Borrower would have the right to draw down a third tranche of up to $15.0 million.



The Company expects to use the proceeds of the Tranche 2 Loan for the commercial launch of AMZEEQ™, certain pipeline development activities and other general corporate purposes.