--- title: "Ardelyx draws $50.0 million Term F Loan under SLR Investment Corp. loan" url: "https://aibio.space/news/ardelyx-draws-50-0-million-term-f-loan-under-slr-investment-corp-loan/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-07-02" section: "Debt Financing" tickers: "NASDAQ:ARDX" source: "https://www.sec.gov/Archives/edgar/data/1437402/000143740226000033/ardx-20260629.htm" summary: "Ardelyx received the funds on June 29, 2026 under its 2022 loan and security agreement. The loan bears interest of 4.55% plus the greater of 1-month SOFR o" --- By the aibio.space news desk. Sources - [ARDELYX, INC. Form 8-K filed July 2, 2026 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1437402/000143740226000033/ardx-20260629.htm) - [ARDELYX, INC. Form 10-K filed February 19, 2026: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1437402/000143740226000013/ardx-20251231.htm) [ARDX](https://aibio.space/companies/ardelyx/) 2026-07-02 # Ardelyx draws $50.0 million Term F Loan under SLR Investment Corp. loan agreement, maturing 2030 Tickers [ARDX](https://aibio.space/companies/ardelyx/) Ardelyx received the funds on June 29, 2026 under its 2022 loan and security agreement. The loan bears interest of 4.55% plus the greater of 1-month SOFR or 3.5%, with interest-only payments until July 1, 2030. ## Key facts - **Company**: Ardelyx, Inc. (NASDAQ: ARDX) - **News type**: Debt Financing - **Primary source**: [ARDELYX, INC. Form 8-K filed July 2, 2026 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1437402/000143740226000033/ardx-20260629.htm) *Trading screens with price charts. CC0, via rawpixel. The picture shows the field, not the companies named.* Ardelyx, Inc. (Nasdaq: [ARDX](https://aibio.space/companies/ardelyx/)) received $50.0 million on June 29, 2026 by drawing the Term F Loan under its loan and security agreement with SLR Investment Corp., which acts as collateral agent. The company reported the draw in a [Form 8-K](https://www.sec.gov/Archives/edgar/data/1437402/000143740226000033/ardx-20260629.htm) filed July 2, 2026 under Item 2.03, which covers the creation of a direct financial obligation. Susan Hohenleitner, its chief financial officer, signed the filing. The loan matures on July 1, 2030. ## The loan and its amendments Ardelyx entered into the agreement in February 2022 with SLR Investment Corp., as collateral agent, and with the lenders listed in the agreement. The 8-K says the agreement was amended in August 2022, February 2023, October 2023, October 2024, June 2025 and April 2026. The 8-K does not describe what each amendment changed. The Term F Loan bears interest at 4.55% plus the greater of the one-month SOFR reference rate or 3.5%. SOFR is a benchmark rate. Ardelyx may pay interest only until July 1, 2030, when the loan matures. The company says it drew the loan for general corporate purposes and to add flexibility for its strategic initiatives, in line with its capital allocation strategy. The 8-K does not describe those initiatives. ## What default would trigger An event of default lets the agent accelerate the debt and pursue remedies against the company and the collateral, including its cash. Defaults include a failure to pay, a covenant breach after any cure period, a finding by certain lenders that a material adverse change has occurred, bankruptcy or other insolvency proceedings, an inability to pay debts as they come due, and a third-party default that would let a creditor accelerate its own debt or that could cause a material adverse change. The material adverse change trigger depends on a judgment by certain lenders, not on a fixed test. While a default continues, an extra 4.0% a year applies to all amounts owed under the loan. ## The company's position at year end The annual report for 2025, filed February 19, 2026, says the 2022 loan agreement provides $300.0 million, of which $200.0 million was drawn and outstanding at December 31, 2025. That figure included $50.0 million of the Term E Loan, drawn in the second quarter of 2025. The report says Ardelyx had cash, cash equivalents and short-term investments of $264.7 million at December 31, 2025, up $14.6 million from a year earlier. Long-term debt on the balance sheet was $202,834 thousand at that date, compared with $150,853 thousand a year earlier. The company lost money in both years. Its net loss was $61,599 thousand in 2025, up from $39,136 thousand in 2024. The annual report lists losses in each year since inception among its principal risks. ## The products behind the debt Ardelyx describes itself as a commercial-stage biopharmaceutical company that markets two therapies made from the active ingredient tenapanor. IBSRELA is approved in the United States for adults with irritable bowel syndrome with constipation. XPHOZAH is approved in the United States to reduce serum phosphorus in adults with chronic kidney disease on dialysis. The company has started a Phase 3 trial of tenapanor in adults with chronic idiopathic constipation and is developing a next-generation NHE3 inhibitor. ## Who is named The 8-K names SLR Investment Corp. as collateral agent and refers to the lenders listed in the agreement, without naming them. It names no placement agent, underwriter, financial adviser or law firm for the draw. The new $50.0 million adds to debt that already stood at $200.0 million at year end, with interest only until 2030. The draw lifts the company's total borrowings while its cash position at the time of the draw is not stated in the 8-K. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story ARDX Ardelyx, Inc. NASDAQ ยท United States Open the starter desk ## More in Debt Financing Debt Financing ### [Pelthos amends Horizon venture loan, funds Loans E to H and adds Loans I and J](https://aibio.space/news/pelthos-amends-horizon-venture-loan-funds-loans-e-h-adds-loans/) Oct 30, 2026 Debt Financing ### [Repligen announces $1.0 billion private convertible notes transaction](https://aibio.space/news/repligen-announces-1-0-billion-private-convertible-notes-transaction/) Oct 30, 2026 Debt Financing ### [FOXO to buy Ludwig Enterprises preferred stock with majority voting power](https://aibio.space/news/foxo-buy-ludwig-enterprises-preferred-stock-majority-voting-power/) Oct 29, 2026 --- Source page: https://aibio.space/news/ardelyx-draws-50-0-million-term-f-loan-under-slr-investment-corp-loan/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Ardelyx draws $50.0 million Term F Loan under SLR Investment Corp. loan", 2026-07-02, https://aibio.space/news/ardelyx-draws-50-0-million-term-f-loan-under-slr-investment-corp-loan/