Financing ·
Borrows $42.5M in term loans to refinance debt, issues warrants for 1.18M shares
CDXSCodexis, Inc.
Codexis entered into a Loan and Security Agreement with Trinity Capital Inc., securing up to $60.0 million in aggregate term loans. On November 5, 2026, the company funded Tranche A of $42.5 million and used these proceeds, along with cash on hand, to repay approximately $43.6 million in outstanding obligations under its previous loan agreement with Innovatus Life Sciences Lending Fund I, LP. The new facility bears interest at a variable rate greater of 10.50% or the WSJ prime rate plus 3.75%, with an interest-only period through November 2030 and maturity in November 2031. Additionally, Codexis issued warrants to purchase 1,666,668 shares at $1.08 per share, with 1,180,556 shares vesting upon the initial funding. The company operates in the biotechnology sector, specializing in enzyme engineering and protein development.