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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)
of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
March 30, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PHARMATHENE, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="width: 2%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="width: 2%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-decoration: underline; text-align: center">Delaware</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-decoration: underline; text-align: center">001-32587</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-decoration: underline; text-align: center">20-2726770</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or other jurisdiction</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Commission</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>File Number)</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Identification No.)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 66%; vertical-align: top; font-weight: bold; text-decoration: underline; text-align: center">One Park Place, Suite 450, Annapolis, Maryland</TD>
    <TD STYLE="width: 2%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: bottom; font-weight: bold; text-decoration: underline; text-align: center">21401</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Registrant&rsquo;s telephone number including
area code: (410)&nbsp;269-2600</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Former name or former address, if changed
since last report)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD STYLE="width: 96%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD STYLE="width: 96%">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD STYLE="width: 96%">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD STYLE="width: 96%">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font-weight: bold">Item 1.01</TD>
    <TD STYLE="width: 90%; font-weight: bold">Entry into a Material Definitive Agreement.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 30, 2012, PharmAthene, Inc. (the &ldquo;Company&rdquo;)
entered into a Loan and Security Agreement (the &ldquo;Loan Agreement&rdquo;) with General Electric Capital Corporation (&ldquo;GE
Capital&rdquo;), as lender and agent for other lenders that may subsequently become party to the agreement. The Loan Agreement
provides for a senior secured debt facility including a $2.5 million term loan and a revolving line of credit of up to $5 million
based on the Company&rsquo;s outstanding qualified accounts receivable.&nbsp; On March 30, 2012, the term loan was funded for an
aggregate amount of $2.5 million (approximately $2.4 million net of expenses) and $858,000 were disbursed to the Company in connection
with the initial draw on the line of credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The fixed interest rate on the term loan is 10.14% per annum.
The Line of Credit has an adjustable interest rate based upon 3-month London Interbank Offered Rate (LIBOR), with a floor of 1.5%,
plus 5%. As of March 30, 2012, this interest rate was 6.5%.&nbsp; Both the term loan and the revolving line of credit mature in
September 2015.&nbsp; Payments on the term loan are interest-only for the first 10 months, which may be extended to 12 months if
certain conditions described in the Loan Agreement are met. Subsequently, the term loan will fully amortize over its remaining
term.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the Company prepays the term loan and terminates the revolving
line of credit prior to the scheduled maturity date, it is obligated to pay a prepayment premium equal to 3% of the then outstanding
principal amount of the term loan during the first two years of the loan and 2% during the third year and thereafter.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&rsquo;s obligations under the Loan Agreement are
secured by a security interest in substantially all of the Company&rsquo;s assets. While the security interest does not, except
in limited circumstances, cover the Company&rsquo;s intellectual property, it does cover any proceeds to the Company from the use
of intellectual property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">The Loan Agreement contains customary
representations, warranties and covenants, including limitations on acquisitions, dispositions, incurrence of indebtedness and
the granting of security interests.</FONT> <FONT STYLE="font-size: 10pt">The representations, warranties and covenants contained
in the Loan Agreement were made only for purposes of such agreement and as of a specific date or specific dates, were solely for
the benefit of the parties to such agreement, and may be subject to limitations agreed upon by the contracting parties, including
being qualified by confidential disclosures exchanged between the parties in connection with the execution of the Loan Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Upon the occurrence and during the continuance of any event
of default, GE Capital may, and at the written request of the requisite lenders shall, terminate the commitments under the facilities
and declare any or all of the obligations to be immediately due and payable, without demand or notice to the Company; however,
any event of default relating to timely payment of debts, insolvency, liquidation, bankruptcy or similar events will result in
automatic acceleration. Among the remedies available to GE Capital in case of an event of default are the taking possession and
disposition of any collateral under the Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the facilities, the Company issued to an
affiliate of GE Capital a warrant to purchase 46,584 shares of the Company&rsquo;s common stock at an exercise price of $1.61 per
share, subject to customary anti-dilution adjustments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The above descriptions of the Loan Agreement and the warrant
are not complete and are qualified in their entirety by reference to the text of the Loan Agreement and the warrant, which are
attached to this Current Report on Form 8-K as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference to
such exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font-weight: bold"><B>Item 2.03</TD>
    <TD STYLE="width: 90%; font-weight: bold">Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required to be disclosed under this Item
is incorporated herein by reference to Item 1.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font-weight: bold; "><FONT STYLE="font-size: 10pt"><B>Item 9.01</B></FONT></TD>
    <TD STYLE="font-weight: bold; width: 90%">Financial Statements and Exhibits.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">Exhibit 10.1</TD><TD STYLE="text-align: justify">Loan and Security Agreement, dated March 30, 2012.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">Exhibit 10.2</TD><TD STYLE="text-align: justify">Form of warrant to purchase 46,584 shares of common stock.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">Exhibit 99.1</TD><TD STYLE="text-align: justify">Press Release, dated April 3, 2012.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">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 hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PHARMATHENE, INC.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">(Registrant)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date:&nbsp; April 3, 2012</TD>
    <TD>By:&nbsp;&nbsp;</TD>
    <TD STYLE="text-decoration: underline">/s/ Jordan P. Karp___________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-left: 2.35pt">Jordan P. Karp, Esq.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-left: 2.35pt">Senior Vice President and General Counsel</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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{"company-data": {"conformed-name": "PHARMATHENE, INC", "cik": "0001326190", "assigned-sic": "2834", "irs-number": "202726770", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32587", "film-number": "12735477"}, "business-address": {"street1": "ONE PARK PLACE, SUITE 450", "city": "ANNAPOLIS", "state": "MD", "zip": "21401", "phone": "410 269 2600"}, "mail-address": {"street1": "ONE PARK PLACE, SUITE 450", "city": "ANNAPOLIS", "state": "MD", "zip": "21401"}, "former-company": {"former-conformed-name": "HEALTHCARE ACQUISITION CORP", "date-changed": "20050505"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 30, 2012
PHARMATHENE, INC.
(Exact name of registrant as specified
in its charter)
Delaware
001-32587
20-2726770
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
One Park Place, Suite 450, Annapolis, Maryland
21401
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number including
area code: (410) 269-2600
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement.
On March 30, 2012, PharmAthene, Inc. (the "Company")
entered into a Loan and Security Agreement (the "Loan Agreement") with General Electric Capital Corporation ("GE
Capital"), as lender and agent for other lenders that may subsequently become party to the agreement. The Loan Agreement
provides for a senior secured debt facility including a $2.5 million term loan and a revolving line of credit of up to $5 million
based on the Company's outstanding qualified accounts receivable.  On March 30, 2012, the term loan was funded for an
aggregate amount of $2.5 million (approximately $2.4 million net of expenses) and $858,000 were disbursed to the Company in connection
with the initial draw on the line of credit.
The fixed interest rate on the term loan is 10.14% per annum.
The Line of Credit has an adjustable interest rate based upon 3-month London Interbank Offered Rate (LIBOR), with a floor of 1.5%,
plus 5%. As of March 30, 2012, this interest rate was 6.5%.  Both the term loan and the revolving line of credit mature in
September 2015.  Payments on the term loan are interest-only for the first 10 months, which may be extended to 12 months if
certain conditions described in the Loan Agreement are met. Subsequently, the term loan will fully amortize over its remaining
term.
If the Company prepays the term loan and terminates the revolving
line of credit prior to the scheduled maturity date, it is obligated to pay a prepayment premium equal to 3% of the then outstanding
principal amount of the term loan during the first two years of the loan and 2% during the third year and thereafter.
The Company's obligations under the Loan Agreement are
secured by a security interest in substantially all of the Company's assets. While the security interest does not, except
in limited circumstances, cover the Company's intellectual property, it does cover any proceeds to the Company from the use
of intellectual property.
The Loan Agreement contains customary
representations, warranties and covenants, including limitations on acquisitions, dispositions, incurrence of indebtedness and
the granting of security interests.
The representations, warranties and covenants contained
in the Loan Agreement were made only for purposes of such agreement and as of a specific date or specific dates, were solely for
the benefit of the parties to such agreement, and may be subject to limitations agreed upon by the contracting parties, including
being qualified by confidential disclosures exchanged between the parties in connection with the execution of the Loan Agreement.
Upon the occurrence and during the continuance of any event
of default, GE Capital may, and at the written request of the requisite lenders shall, terminate the commitments under the facilities
and declare any or all of the obligations to be immediately due and payable, without demand or notice to the Company; however,
any event of default relating to timely payment of debts, insolvency, liquidation, bankruptcy or similar events will result in
automatic acceleration. Among the remedies available to GE Capital in case of an event of default are the taking possession and
disposition of any collateral under the Loan Agreement.
In connection with the facilities, the Company issued to an
affiliate of GE Capital a warrant to purchase 46,584 shares of the Company's common stock at an exercise price of $1.61 per
share, subject to customary anti-dilution adjustments.
The above descriptions of the Loan Agreement and the warrant
are not complete and are qualified in their entirety by reference to the text of the Loan Agreement and the warrant, which are
attached to this Current Report on Form 8-K as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference to
such exhibits.
Item 2.03
Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information required to be disclosed under this Item
is incorporated herein by reference to Item 1.01.
Item 9.01
Financial Statements and Exhibits.
Exhibit 10.1
Loan and Security Agreement, dated March 30, 2012.
Exhibit 10.2
Form of warrant to purchase 46,584 shares of common stock.
Exhibit 99.1
Press Release, dated April 3, 2012.
SIGNATURES
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 hereunto duly authorized.
PHARMATHENE, INC.
(Registrant)
Date:  April 3, 2012
By:
/s/ Jordan P. Karp___________________________
Jordan P. Karp, Esq.
Senior Vice President and General Counsel