Item 2.04 or an Obligation under an Off-Balance Sheet Arrangement.
As previously disclosed, on May 22, 2020, Tricida, Inc. (the "Company") entered
into an indenture (the "Indenture") with U.S. Bank National Association, as
trustee ("US Bank"), relating to the Company's $200 million aggregate principal
amount of 3.50% Convertible Senior Notes due 2027 (the "Notes"). On December 28,
2022, the Company received a notice from US Bank stating that an event of
default occurred and is continuing under the Indenture as the Company has not
made the latest interest payment and the grace period for such payment has
passed. Furthermore, the notice stated that holders of at least 25% in aggregate
principal amount of the Notes have directed US Bank to accelerate payment on the
Notes. Accordingly, pursuant to the notice from US Bank, 100% of the principal
amount of, and accrued and unpaid interest on, the Notes has become immediately
due and payable.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number Description
Cover Page Interactive Data File (embedded within the Inline XBRL
104 document).
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