Affymax, Inc. (AFFY)

[hawkmd]

8-K out! NO more Debt...

On April 3, 2013, we entered into a letter agreement, or Letter Agreement, relating to the loan and security agreement dated March 26, 2012, or the Loan Agreement, with Oxford Finance Corporation and Silicon Valley Bank, or, collectively, the Lenders. Pursuant to the terms of the Letter Agreement: (i) we paid all amounts due and owing so as to discharge our obligations thereunder, (ii) we waived any rights to seek additional credit extensions or unfunded commitments under the Loan Agreement, and (iii) the security interest granted to Lenders relating to substantially all of our assets, other than our intellectual property, was terminated.



The description of the Letter Agreement contained herein does not purport to be complete and is qualified in its entirety by reference to the Letter Agreement , a copy of which will be included as an Exhibit to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2013, and is incorporated by reference herein.

http://www.sec.gov/Archives/edgar/data/1158223/000110465913027101/a13-9500_18k.htm