TuHURA Biosciences, Inc./NV 8-K

What Happened
TuHURA Biosciences, Inc. (HURA) announced on April 21, 2026 that it entered into a $50 million revolving Loan Agreement with Parkview Holdings One LLC (an affiliate of its largest stockholder, K&V Investment One LLC/Vijay Patel). The facility matures April 21, 2031, is secured by substantially all company assets, and carries a 12% annual interest rate (plus an additional 6% during any event of default). The company expects, assuming stockholder approval of certain fee shares, that the credit line will help fund operations and development into Q1 2028.

Key Details

• $50.0 million revolving credit facility with monthly draws (one draw per month) limited to the greater of $1.7M or the next month's budgeted expenses; unused prior-month capacity can be added.
• Interest: 12% per year; additional 6% margin if an event of default occurs. Facility secured by substantially all assets.
• Fees & equity: 10% commitment fee = $5.0M; company elected to issue 1,878,287 “Loan Fee Shares” to Parkview in lieu of cash, subject to stockholder approval by August 31, 2026 (cash due Sept 1, 2026 if not approved). Annual facility fee = 1.5% of total commitment starting one year after agreement.
• Related arrangements: Royalty Agreement grants Parkview a low- to mid-single-digit royalty on IFx-2.0 product sales (up to $450M in Net Sales per year) through the last-to-expire patent; two warrant amendments extend 4,364,873 warrants held by K&V Investment One LLC to April 21, 2031 (exercise prices $3.69 and $5.70).
• Conversion and governance: Debt not convertible except upon a Change of Control, where Parkview may convert outstanding principal and interest into common shares at $2.662 per share subject to prior stockholder approval; Parkview may request the right to appoint a board director (subject to exchange/SEC rules). Events of default include a Change of Control or discontinuation of the IFx-20 development program.

Why It Matters
This agreement gives TuHURA a committed source of capital intended to support clinical trials and development programs in the near term and, if fee-share issuance is approved, could fund operations into early 2028. However, the facility is relatively expensive (12% interest) and is secured by nearly all company assets; it also includes a royalty on potential IFx-2.0 product sales and extends warrants that could increase future dilution. The lender’s affiliation with the company’s largest stockholder introduces potential conflicts and requires stockholder votes for certain equity-related items (loan fee shares and any conversion rights). Investors should note the cash vs. equity fee trade-off, the high interest cost, and the restrictions and default triggers that could affect company flexibility.