SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 25, 2012
Arena Pharmaceuticals, Inc.
(Exact name of registrant as specified in its charter)
6166 Nancy Ridge Drive, San Diego, California 92121
(Address of principal executive offices) (Zip Code)
(Registrants telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
In this report, Arena Pharmaceuticals, Arena, Company, we, us and our refer to Arena Pharmaceuticals, Inc., unless the context otherwise provides.
Item 1.02 Termination of a Material Definitive Agreement.
We entered into a Facility Agreement (the Facility Agreement) on June 17, 2009, with Deerfield Private Design Fund, L.P., Deerfield Private Design International, L.P., Deerfield Partners, L.P., Deerfield International Limited, Deerfield Special Situations Fund, L.P., and Deerfield Special Situations Fund International Limited (collectively, Deerfield), pursuant to which Deerfield provided us with a loan. The Facility Agreement required that we repay in June 2013 any principal under the loan that remained then outstanding. Concurrently with entering into the Facility Agreement, we also entered into a Security Agreement (the Security Agreement) with Deerfield, which evidenced Deerfields security interest in our assets.
On May 25, 2012, we prepaid Deerfield for the outstanding principal and the accrued and unpaid interest under the Facility Agreement, which totaled approximately $10.8 million, and the Facility Agreement and the Security Agreement terminated.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.