Aldeyra Therapeutics, Inc. 8-K

What Happened
Aldeyra Therapeutics, Inc. announced in an 8-K (filed April 1, 2026) that it paid off the outstanding borrowings of $15.0 million under its Loan and Security Agreement (the Hercules Credit Facility) and terminated all remaining commitments under that facility on April 1, 2026. The original agreement was dated March 25, 2019, and listed Hercules Capital, Inc. as administrative and collateral agent for the lenders. The facility terminated pursuant to its terms upon payoff.

Key Details

• Outstanding borrowings paid: $15,000,000 (payment made April 1, 2026).
• Facility: Loan and Security Agreement dated March 25, 2019, with maturity date April 1, 2026; Hercules Capital served as administrative/collateral agent.
• Result: All outstanding commitments under the Hercules Credit Facility were terminated.
• Liquidity context: The company previously disclosed that cash, cash equivalents, and marketable securities as of December 31, 2025 are expected to support operations into 2028.

Why It Matters
Paying off the $15M debt and terminating the Hercules Credit Facility removes that outstanding borrowing and the associated commitments from Aldeyra’s balance sheet, altering its capital structure and eliminating future obligations tied to this facility. For investors, this reduces the company’s leverage related to this loan and may affect interest expense and covenant risk going forward. The company’s disclosed liquidity runway into 2028 provides additional context on its ability to operate after the payoff.