Sorry for the formatting....From ASX announcement on...

Sorry for the formatting....

From ASX announcement on 8/8/2017:

Item 1.01 - Entry into a Material Definitive AgreementOn August 4, 2017 (“Effective Date”), AirXpanders, Inc. (the “Company”) and Oxford Finance LLC (“Oxford”) entered into a Loan and Security Agreement (the“Agreement”). Pursuant to the terms and conditions of the Agreement, the Company borrowed $15.0 million under a term loan which matures in August 2022 (the "TermLoan"). The Term Loan bears interest at a floating per annum rate equal to the greater of (a) the thirty day LIBOR rate, or (b) 0.99%, plus 7.26% (based on the current LIBORrate, the Term Loan currently bears interest at 8.48%). The Company is required to make interest-only payments following the funding of the Term Loan through September1, 2019 or, under certain circumstances, through September 1, 2020. The Term Loan will begin amortizing at the end of the applicable interest-only period, with monthlypayments of principal and interest being made by the Company in consecutive monthly installments following such interest-only period. In addition to principal and interest payments, the Company is required under the Agreement to make a final payment fee of $1.2 million, which will be accrued over the termof the credit facility and will be due at the earlier of maturity, or prepayment of the Term Loan. If the Company repays the amounts borrowed under the Term Loan prior tomaturity, the Company will be required to make a prepayment fee equal to 0.5% to 2.0% of the principal amount of the prepaid amount, depending upon the timing of theprepayment. The Company can prepay the entire loan amount by providing a written five-day notice prior to such prepayment and pay all outstanding principal, interestand prepayment fees plus any default fees and all other sums that shall have become due and payable. In addition, the Company is required to pay customary commitmentfees and certain other customary fees related to the Lenders’ administration of the credit facility. In connection with the Agreement, the Company granted warrants to Oxford for the purchase of 277,778 shares of common stock at an exercise price equal to $1.62 pershare (the "Warrants"). The fair value of the Warrants on the date of issuance will be recorded as a debt discount, and amortized over the life of the Term Loan, along withthe issuance costs.

The Company’s obligations under the Agreement are secured by a first priority security interest in substantially all of the Company’s assets, other than its intellectual property. The Company has agreed not to pledge or otherwise encumber its intellectual property assets, except for permitted liens, as such terms are defined in theAgreement and except as otherwise provided for in the Agreement. The Agreement also contains representations and warranties, affirmative and negative covenantsapplicable to the Company and events of default, in each case subject to grace periods, thresholds and materiality qualifiers, as more fully described in the Agreement. Theaffirmative covenants include, among others, covenants requiring the Company to maintain its legal existence and material governmental approvals, deliver certain financialreports, maintain insurance coverage, and achieve certain trailing six-month revenue targets. The negative covenants include, among others, restrictions on the Company’sincurring additional indebtedness, engaging in mergers, consolidations or acquisitions, consummating certain changes of control, paying dividends or making otherdistributions, making investments, creating liens and selling assets. The events of default include, among other things, the Company’s failure to pay any amounts dueunder the Agreement, a breach of covenants under the Agreement, the Company’s insolvency, a material adverse change, the occurrence of a default under certain otherindebtedness and the entry of final judgments against the Company in excess of a specified amount. If an event of default occurs, the Lenders are entitled to take variousactions, including the acceleration of amounts due under the Agreement, termination of the commitments under the Agreement and certain other actions available tosecured creditors.The foregoing summary of the Agreement and the Warrants does not purport to be complete and is qualified in its entirety by reference to the Agreement and theWarrants, which will be filed as exhibits to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2017.

From ASX announcement 2/8/2018:

In August 2017, we entered into a loan and security agreement with Oxford Finance LLC, or Oxford, pursuant to which we borrowed $15 million from Oxford. Underthe Oxford loan agreement, we are subject to a variety of affirmative and negative covenants. These covenants include required financial reporting, providing anunqualified auditor’s opinion together with our annual financial statements within 120 days of the end of our fiscal year (the unqualified audit opinion covenant),limitations on certain dispositions and licensing of assets, limitations on the incurrence of additional debt, and achievement of certain financial milestones.

To secure ourperformance of our obligations under this loan and security agreement, as amended, we granted Oxford a security interest in all of our assets, including our intellectualproperty. Our failure to comply with the terms of the loan and security agreement, including the unqualified audit opinion covenant, the occurrence of a material adversechange in our business, operations or condition (financial or otherwise) or prospects, the material impairment in our prospect of repayment, a material impairment in theperfection or priority of the Oxford’s lien on our assets or the value of Oxford’s collateral, failure to achieve agreed financial milestones, or the occurrence of certain otherspecified events could result in an event of default that, if not cured or waived, could result in the acceleration of all or a substantial portion of our loan, coupled withprepayment penalties, potential foreclosure on our assets, and other adverse results.Oxford has already granted us three waivers in connection with covenant breaches under the loan and security agreement but there is no certainty that Oxford willgrant us a further waiver if we do not comply with any covenants in the future.If Oxford were to declare an event of default, it would have the option, among other things, of accelerating the debt under our loan and security agreement andforeclosing on the Company’s assets pledged as collateral for the term loan. Any declaration of an event of default would significantly harm our business and would likelycause the price of our common stock to decline.