ImmunityBio, Inc. (the 'Company') entered into a Second Amendment to its Revenue Interest Purchase Agreement (RIPA) with Oberland Capital, securing an additional $75.0 million in non-dilutive financing. This 'Third Payment' increases the total committed capital under the RIPA to $375.0 million. The revenue interest rate payable to purchasers was increased to a tiered range of 5.625% to 12.50% of net sales (up from 4.5% to 10.0%) in the 'Covered Territory' (worldwide, excluding China, Hong Kong, and related territories). If aggregate Revenue Interest Payments reach $375.0 million by the end of 2029, the rate will decrease to a single rate of 2.8125% (from 2.25%). If not, the rate will increase to ensure purchasers receive $375.0 million. Purchasers' rights to receive payments terminate when aggregate payments equal 195% of the then-Cumulative Purchaser Payments. Proceeds from the $75.0 million payment will be used for general corporate purposes, including transaction expenses. Simultaneously, Nant Capital, LLC, an entity affiliated with Executive Chairman Dr. Patrick Soon-Shiong, converted $25.0 million of outstanding principal from a convertible promissory note into 4,606,596 shares of ImmunityBio common stock. Following the conversion, the principal amount outstanding under the Convertible Promissory Note is $480.0 million. The Company's obligations under the amended RIPA are guaranteed by certain subsidiaries and secured by a security interest in substantially all of their assets.