secwatch.observer — SEC 8-K summary
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Issuer:     Finch Therapeutics Group, Inc. (FNCHQ)
CIK:        0001733257
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0000950170-23-001236
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.02
LLM model:  deepseek-v4-flash:cloud@v2

Finch Therapeutics prepays $16.2M to Hercules Capital, terminates loan agreement
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- On Jan 25, 2023, prepaid $16.2M aggregate, including $330K prepayment charge (2.2%) and $825K end-of-term fee.
- Loan originally provided up to $55M term loan; only $15M was borrowed under the agreement.
- All obligations, covenants, and liabilities under the Loan Agreement discharged and agreement terminated.
- Interest rate was variable (Prime plus 4.05%, floor 7.55%); interest-only period was through Dec 2024.
- Prepayment uses cash; reduces debt but drains liquidity for Finch Therapeutics (FNCH).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1733257/000095017023001236/0000950170-23-001236-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1733257/000095017023001236/fnch-20230125.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-001236

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer