Item 1.01. Entry into a Material Definitive Agreement.
On December 30, 2021, Appian Corporation ("Appian") and Silicon Valley Bank
("SVB") entered into a First Loan Modification Agreement (the "Modification") to
the Third Amended and Restated Loan and Security Agreement between Appian, as
Borrower, and SVB dated as of November 1, 2017 (the "Loan Agreement").
The Modification provides for the extension of the maturity date of amounts due
under the Loan Agreement until November 1, 2025. In addition, the Modification
replaces LIBOR as a benchmark rate for advances under the Loan Agreement with
the Term Secured Overnight Financing Rate ("SOFR"). The remaining terms and
conditions of the Loan Agreement generally continue in the form existing prior
to the Modification. As of January 3, 2022, no amounts are outstanding under the
Loan Agreement.
The foregoing description of the Modification is qualified in its entirety by
reference to the full text of the Modification, a copy of which will be filed as
an exhibit to the Company's Annual Report on Form 10-K for the year ending
December 31, 2021, and the full text of the Loan Agreement previously filed as
Exhibit 10.1 to the Company's Current Report on Form 8-K filed with the
Securities and Exchange Commission on November 2, 2017, each of which are
incorporated by reference herein.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 of this Current Report on Form 8-K is
incorporated herein by reference.
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