Disc Medicine entered into a First Amendment to its Loan and Security Agreement to extend advance availability and adjust covenants. The company agreed to draw $30 million under Tranche 1-B, split the existing $50 million Tranche 1-C into a $25 million option available through March 31, 2027 and a $25 million Tranche 1-D available through April 30, 2027, and extended the Tranche 2 and Tranche 3 draw periods to December 15, 2027 and June 30, 2028, respectively. The amendment also moves the initial minimum cash covenant testing date to July 1, 2028, enhancing liquidity flexibility.
Agreement details:
- Agreement type: First Amendment to Loan and Security Agreement (venture debt facility)
- Counterparty: Hercules Capital
- Signed / Effective: Jun 25 2026 / same
- Duration / Termination: Advance windows through Jun 30 2028
- Reason: Extend advance availability, bolster liquidity, and adjust covenant testing
Original SEC Filing:
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