On May 31, 2024, Plus Therapeutics, Inc. drew $3.3 million on its existing margin loan facility (the Pershing Credit Facility) with Pershing LLC (Pershing?, an affiliate of The Bank of New York Mellon Corporation. Borrowings under the Pershing Credit Facility bear interest at the target interest rate set by the Federal Open Market Committee, subject to a floor of 5.5%, plus a spread of 1.75% and applicable fees of 0.5%, subject to a maximum interest rate of the then applicable Prime Rate as published in The Wall Street Journal plus 3.0%. Interest payments thereunder are calculated on a monthly basis and, unless paid, are added to the outstanding balance under the Pershing Credit Facility.

The proceeds under the Pershing Credit Facility are available for working capital needs and other general corporate purposes. The Pershing Credit Facility includes certain covenants and restrictions, which may require the Company, on an on-going basis, to deposit additional funds or marketable securities in order to maintain the line of credit extended by Pershing. The available credit line limit under the Pershing Credit Facility fluctuates based on the Company?s request for extensions of credit from time to time, subject to the value of the collateralized marketable securities that the Company holds with Pershing, provided that the amount available to draw under the Pershing Credit Facility cannot exceed 91.5% of the value of the Company?s collateralized marketable securities deposited with Pershing (the Collateral).

Depending on the value of the Collateral that the Company holds with Pershing, Pershing may require the Company, on an on-going basis, to deposit additional funds or marketable securities in order to restore the level of the Collateral to an acceptable level. The amounts borrowed under the Pershing Credit Facility are due on demand. The Pershing Credit Facility is secured by a general lien and security interest in the Company?s Collateral held in its account with Pershing.

Upon certain customary events of default, Pershing has the right, in its discretion, to liquidate, withdraw or sell all or any part of the Collateral and apply the proceeds to the amounts outstanding under the Pershing Credit Facility. The Pershing Credit Facility is also subject to certain customary terms and conditions. On May 29, 2015, the Company entered into a Loan and Security Agreement, that was subsequently amended, with Oxford Finance, LLC (Oxford) (the Oxford Term Loan).

On June 3, 2024, following the drawing of $3.3 million on the Pershing Credit Facility on May 31, 2024, the Company repaid the Oxford Term Loan in full, a payment amount that totaled approximately $3.3 million, which included both the balance of outstanding principal and interest and the final payment fee due. The repayment in full of the Oxford Term Loan terminated Oxford?s security interest in the Company?s existing and after-acquired assets, as well as all other certain restrictions and covenants under the Oxford Term Loan.