---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-000427"
form_type: "8-K"
ticker: "AXSM"
cik: "0001579428"
company_name: "Axsome Therapeutics, Inc."
filed_at: "2023-01-09T23:59:59+00:00"
generated_at: "2026-06-20T17:50:05.132274+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Axsome increases Hercules loan to $350M, cuts rate, extends maturity to 2028/2029

## Summary
- Total loan commitment raised to $350M from $300M; interest rate is greater of 9.95% or prime+2.20%.
- Maturity extended to Jan 1, 2028 (or Jan 1, 2029 if revenue targets met); minimum cash covenant $30M.
- Company believes current cash plus remaining committed capital sufficient to fund operations to cash flow positivity.
- Amended tranche structure with $95M, $55M, $30M, $35M, $35M sub-tranches for Tranche 1.

## SEC filing metadata
- accession: 0000950170-23-000427
- form_type: 8-K
- ticker: AXSM
- cik: 0001579428
- company_name: Axsome Therapeutics, Inc.
- filed_at: 2023-01-09T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1579428/000095017023000427/0000950170-23-000427-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1579428/000095017023000427/axsm-20230109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-000427
- JSON: https://secwatch.observer/filing/0000950170-23-000427.json
- Plain text: https://secwatch.observer/filing/0000950170-23-000427.txt

## Key facts
- Material Agreements
  Axsome Therapeutics, Inc. amended Third Amendment with Hercules Capital, Inc. valued at $350,000,000 (effective 2023-01-09).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Hercules Capital, Inc.
  - Value: $350,000,000
  - Effective: 2023-01-09
  source text: On January 9, 2023, Axsome Therapeutics Inc., a Delaware corporation (the “Company”), entered into a Third Amendment (the “Third Amendment”) to its Loan and Security Agreement (the “Loan Agreement”) with Hercules Capital, Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1579428/000095017023000427/0000950170-23-000427-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.