{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-053882","form_type":"8-K","ticker":"RCEL","cik":"0001762303","company_name":"AVITA Medical, Inc.","filed_at":"2023-10-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.350432+00:00","generated_at":"2026-06-09T21:54:38.608602+00:00","sec_items":["1.01","2.02","2.03","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"AVITA Medical secures $90M debt facility from OrbiMed; prelim Q3 revenue $13.5M (+50% YoY)","bullets":["Preliminary Q3 commercial revenue $13.5M, +50% YoY from ~$9.0M; gross margin ~84.5%.","Full-year 2023 revenue guidance unchanged at $51-53M.","$40M funded at close; up to $50M more available in two tranches based on revenue thresholds.","Five-year term matures Oct 2028; OrbiMed gets warrant for 409,661 shares at $10.9847.","Management expects financing to fund growth and support reaching profitability during 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-053882","json":"https://secwatch.observer/filing/0000950170-23-053882.json","markdown":"https://secwatch.observer/filing/0000950170-23-053882.md","text":"https://secwatch.observer/filing/0000950170-23-053882.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1762303/000095017023053882/0000950170-23-053882-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1762303/000095017023053882/rcel-20231018.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T21:54:38.608602+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"f98a25cbe2e85399402e76d550d6165006f91a2e","claim":"AVITA Medical, Inc. incurred credit facility of up to $90 million with an affiliate of OrbiMed at the greater of (x) the SOFR rate for such period and (y) 4.00% plus, in either c maturing five years.","evidence_excerpt":"The Credit Agreement provides for a five-year senior secured credit facility in an aggregate principal amount of up to $90 million (the “Loan Facility\"), of which (i) $40 million was made available on the Closing Date (the “Initial Commitment Amount\")","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1762303/000095017023053882/0000950170-23-053882-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"up to $90 million"},{"label":"Counterparty","value":"an affiliate of OrbiMed"},{"label":"Rate","value":"the greater of (x) the SOFR rate for such period and (y) 4.00% plus, in either c"},{"label":"Maturity","value":"five years"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"4bdad24d865d45f135a40031e5002fbe6c2ae843","claim":"AVITA Medical, Inc. reported the quarter ended September 30, 2023 results: revenue $13.5 million. Guidance reaffirmed.","evidence_excerpt":"preliminary commercial revenue was $13.5 million","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1762303/000095017023053882/0000950170-23-053882-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended September 30, 2023"},{"label":"Revenue","value":"$13.5 million"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"preliminary results"}],"fact_type":"earnings_release"},{"claim_id":"b21da2b29973cd080ea7cbbf99e5763785c5ba24","claim":"AVITA Medical, Inc. entered into Credit Agreement with an affiliate of OrbiMed valued at up to $90 million (effective 2023-10-18).","evidence_excerpt":"AVITA Medical, Inc. (the “Company”) entered into a Credit Agreement (the “Credit Agreement”), by and between the Company, as borrower, and an affiliate of OrbiMed as the lender and administrative agent (the “Lender”). The Credit Agreement provides for a five-year senior secured credit facility in an aggregate principal amount of up to $90 million","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1762303/000095017023053882/0000950170-23-053882-index.htm","confidence":1.0,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"an affiliate of OrbiMed"},{"label":"Value","value":"up to $90 million"},{"label":"Effective","value":"2023-10-18"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}