secwatch.observer — SEC 8-K summary
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Issuer:     Adicet Bio, Inc. (ACET)
CIK:        0001720580
Form:       8-K
Filed at:   2023-06-05T23:59:59+00:00
Accession:  0000950170-23-026406
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Adicet Bio amends credit agreement with Pacific Western Bank, adjusting deposit and investment covenants.
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- Amendment to Loan and Security Agreement dated May 30, 2023 with Pacific Western Bank.
- Company must maintain lesser of $35M or all combined balances in PacWest deposit/MM/insured cash sweep accounts.
- If below $35M at PacWest, can hold up to $2.5M in outside accounts subject to control agreement, plus $250K in foreign accounts.
- Guarantor reaffirmed prior guaranty and security interest in substantially all assets except IP.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1720580/000095017023026406/0000950170-23-026406-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1720580/000095017023026406/acet-20230530.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-026406

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