Armata Pharmaceuticals Inc. entered into a securities purchase agreement with returning investor Innoviva Strategic Opportunities LLC to issue Secured Convertible Loan for gross proceeds of $30,000,000 on January 10, 2023. The company will issue the term loan at an interest rate of 8.0% per annum. The loan has a maturity date of January 10, 2024.

Repayment of the Loan is required to be guaranteed by the companyÆs domestic subsidiaries and foreign material subsidiaries, and the Loan is secured by substantially all of the assets of the Company and the subsidiary guarantors.