Better Therapeutics, Inc. received written notice from Hercules Capital, Inc. that events of default have occurred with respect to that certain Loan and Security Agreement dated as of August 18, 2024, as amended (the ?Loan and Security Agreement?) by and between Hercules in its capacity as administrative and collateral agent, the parties who are lenders thereunder, the Company and its subsidiaries (the ?Hercules Notice?). The Hercules Notice indicates that events of default have occurred under the Loan and Security Agreement?s Section 8.2 (Covenant Default, with respect to the minimum cash covenant under Section 7.12), Section 8.3 (Material Adverse Change) and Section 8.5 (Insolvency). The Hercules Notice indicates that all obligations are now immediately due and payable, and lender and agent reserve all rights and remedies provided under the Loan and Security Agreement, including the right to charge interest at the default rate on all amounts due and owing from the Company to lender and agent, including principal, interest and fees, during the continuance of any of the events of default.