Axsome Therapeutics Inc. entered into Third Amendment to its Loan and Security Agreement with Hercules Capital, Inc., in its capacity as administrative agent and collateral agent, and the other financial institutions or entities party thereto as lenders. The Third Amendment increases the size of the Term Loan Advance to $350,000,000, reduces the interest rate, and extends the maturity and interest-only period of the Loan Agreement. The Third Amendment amended the terms of that certain Loan and Security Agreement, dated as of September 25, 2020, by and among the Company, Hercules and the Lenders to, among other things, extend the maturity date to January 1, 2028, unless the Company meets certain revenue targets as described in the Loan Agreement, in which case the Company can extend the Maturity Date to January 1, 2029; increase the aggregate principal amount under the Loan Agreement from $300,000,000 to $350,000,000; subject to the terms and conditions in the Loan Agreement, change the Term Loan Advance amounts and dates available under the Tranche 1 Advance through Tranche 5 Advance, including increasing the Tranche 1 Advance from one tranche of $95,000,000 to five sub-tranches of $95,000,000, $55,000,000, $30,000,000, $35,000,000 and $35,000,000, respectively, changing the Tranche 2 Advance from three sub-tranches of $35,000,000, $35,000,000 and $30,000,000 to one tranche of $25,000,000, changing the Tranche 3 Advance from two sub-tranches of $15,000,000 and $5,000,000 to one tranche of $75,000,000, and removing the Tranche 4 Advance and Tranche 5 Advance entirely; revise the interest rate applicable to extensions of credit under the Loan Agreement to equal the greater of 9.95% per annum or the prime rate plus 2.20% per annum, increase the minimum cash requirement of the Company to $30,000,000; and pay a facility fee equal to 0.75% of the amount of principal actually funded pursuant to the Tranche 1B Advance, Tranche 1C Advance, Tranche 1D Advance, Tranche 1E Advance, Tranche 2 Advance and Tranche 3 Advance.