EVERSPIN TECHNOLOGIES INC. 10-Q

Item 5. Other Information . ​ Item 1.01 Entry into a Material Definitive Agreement On July 15, 2020, the Company and SVB entered into a First Amendment to Amended and Restated Loan and Security Agreement (Amendment), which amended that certain Amended and Restated Loan and Security Agreement, dated as of August 5, 2019, by and between the Company and SVB. The Amendment amended the terms of the 2019 Credit Facility to (i) extend the initial 12 months interest-only period for the 2019 Term Loan to a 16 months interest-only period; (ii) lower the floor interest rates for 2019 Term Loan and the Line of Credit Facility from 4.75% and 6.75% to 3.75 and 4.75%, respectively; (iii) extend the 2019 Term Loan maturity date to June 1, 2023; (iv) remove the liquidity ratio financial covenant; (v) add a new minimum cash and availability covenant requiring the Company to maintain at all 44 Table of Contents times (tested as of the last day of each month) Cash and Availability (as defined in the Amendment) of at least $11,000,000; and (vi) make certain other revisions to the terms of the 2019 Credit Facility as forth therein. ​ In conjunction with entering into the Amendment, on July 15, 2020, the Company issued a warrant to SVB to purchase 21,500 shares of the Company’s common stock at an exercise price of $0.01 per share. The warrant expires on July 15, 2025. ​ Item 6. Exhibit s EXHIBIT INDE X ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Incorporation By Reference ​ Exhibit Number Description Form SEC File No. Exhibit/ Reference Filing Date 3.1 Amended and Restated Certificate of Incorporation 8-K 001-37900 3.1 10/13/2016 3.2 ​ A mendment to Amended and Restated Certificate of Incorporation ​ 8-K ​ 001-37900 ​ 3.1 ​ 5/22/2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.3 Amendment to Amended and Restated Certificate of Incorporation 8-K 001-37900 3.1 5/27/2020 3.4 ​ Amended and Restated Bylaws ​ 8-K ​ 001-37900 ​ 3.2 ​ 5/22/2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4.1 ​ Warrant to Purchase Common Stock, dated as of July 15, 2020, between the Company and Silicon Valley Bank ​ 10-Q ​ 001-37900 ​ 4.3 ​ 8/6/2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 10.1 ​ First Amendment to Amended and Restated Loan and Security Agreement, dated as of July 15, 2020, between the Company and Silicon Valley Bank ​ 10-Q ​ 001-37900 ​ 10.3 ​ 8/6/2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 31.1* Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 31.2* Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 45 Table of Contents 32.1** Certification of Principal Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 101.INS* Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document 101.SCH* Inline XBRL Taxonomy Extension Schema Document 101.CAL* Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF* Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB* Inline XBRL Taxonomy Extension Label Linkbase Document ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 101.PRE* Inline XBRL Taxonomy Extension Presentation Linkbase Document ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 104* ​ Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) ​ ​ ​ ​ ​ ​ ​ ​ * Filed herewith. ** Furnished herewith. ​ 46 Table of Contents ​ SIGNATURE S ​ Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ​ ​ ​ ​ ​ Everspin Technologies, Inc. ​ ​ Date: November 5, 2020 By: /s/ Kevin Conley ​ ​ Kevin Conley ​ ​ President and Chief Executive Officer ​ ​ (Duly Authorized Officer and Principal Executive Officer) ​ ​ ​ ​ ​ ​ ​ Date: November 5, 2020 By: /s/ Daniel Berenbaum ​ ​ Daniel Berenbaum ​ ​ Chief Financial Officer ​ ​ (Principal Financial and Accounting Officer) ​ ​ 47