Rockwell Medical, Inc. announced that the Company amended its loan and security agreement with Innovatus Life Sciences Lending Fund I, LP. Under the terms of the third amended and restated loan and security agreement (the Amendment), Rockwell Transportation, Inc., initially entered into a loan and security agreement with Innovus on March 16, 2020 under which Innovatus agreed to make certain term loans to the Company, of which the Company drew down approximately $21.0 million. At December 31, 2023, the Company's outstanding balance under those term loans was $8.0 million (the Term Loans).

Under the terms of the third Amortization schedule under the loan and security agreement, Rockwell Medical reduced the interest rate on, and extended the loan maturity date for, the Term Loans from March 2025 to January 2029. The Company will make interest-only payments for thirty months, or up to thirty-six months if certain conditions are met. In connection with the execution of the Amendment, the Company issued to Innovatus a warrant to purchase 191,096 shares of the Company's common stock with an exercise price of $1.83 per share.

The warrant is immediately exercisable through January 2, 2029.