Item 1.01 Entry into a Material Definitive Agreement.

On August 6, 2021, Aquestive Therapeutics, Inc. (the "Company") entered into the Third Supplemental Indenture (the "Third Supplemental Indenture"), by and among the Company and U.S. Bank National Association, as Trustee (the "Trustee") and collateral agent thereunder, to the Indenture, dated as of July 15, 2019 (the "Base Indenture" and, as supplemented by the First Supplemental Indenture and Second Supplemental Indenture, the "Indenture"), by and between the Company and the Trustee. Pursuant to the Third Supplemental Indenture, the Company has the option to issue (i) an additional $10.0 million aggregate principal amount of the Notes if the Company has received approval from the U.S. Food and Drug Administration (the "FDA") for the Company's drug candidate Libervant™ on or prior to June 30, 2022 (the "First Additional Notes"); provided, however, that such approval shall not require any market access or a waiver of orphan drug exclusivity, and (ii) up to an additional $30.0 million (less the amount of any First Additional Notes issued by the Company) if the Company obtains full approval from the FDA of its product candidate Libervant™, which full approval shall include market access on or prior to June 30, 2022; in each case, subject to certain conditions, including that no event of default under the Indenture has occurred and is continuing. The Third Supplemental Indenture extended out the foregoing dates in the Indenture from December 31, 2021.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of the Registrant.

The information required by this Item 2.03 relating to the First Additional Notes and the Indenture is set forth under Item 1.01 of this Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.

Exhibit Number               Description

  4.1                        Third Supplemental Indenture, dated August 6, 2021, among Aquestive
                             Therapeutics, Inc., as Issuer, any Guarantor that becomes party thereto
                             and U.S. Bank, National Association, as Trustee and Collateral Agent
  99.1                       Press Release dated August 9, 2021, announcing Aquestive Therapeutics,
                             Inc. Negotiates Six Month Extension to June 30, 2022 for Additional
                             Libervant™ Related Capital Under Current Debt Agreement

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