Item 8.01. Other Events.

As previously reported in the Current Report on Form 8-K filed on April 20, 2020 by Accelerate Diagnostics, Inc. (the "Company"), on April 14, 2020, the Company entered into a promissory note (the "Note") evidencing an unsecured loan (the "Loan") in the principal amount of $4,780,600 made to the Company under the Paycheck Protection Program (the "PPP"). The PPP was established under the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") and is administered by the U.S. Small Business Administration. The Loan to the Company was made through Zions Bancorporation, N.A. dba National Bank of Arizona (the "Lender").

Pursuant to the terms of the CARES Act and the PPP, the Company may apply to the Lender for forgiveness for the amount due on the Loan. The amount eligible for forgiveness is based on the amount of Loan proceeds used by the Company (during the 24-week period after the Lender makes the first disbursement of Loan proceeds) for the payment of certain covered costs, including payroll costs (including benefits), rent and utilities, subject to certain limitations and reductions in accordance with the CARES Act and the PPP.

During January 2021, the Company submitted its application for forgiveness to the Lender. On July 15, 2021, the SBA informed the Company of its full forgiveness for the entire Loan amount plus accrued interest. The SBA's determination of loan forgiveness does not preclude further investigation by the SBA according to its rules and regulations at a future date.

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