---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-127056"
form_type: "8-K"
ticker: "ALEC"
cik: "0001653087"
company_name: "Alector, Inc."
filed_at: "2024-11-14T23:59:59+00:00"
generated_at: "2026-05-30T00:30:03.064317+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Alector secures up to $50M credit facility from Hercules Capital; draws $10M initially

## Summary
- Initial $10M drawn at closing; $15M available upon request through June 2026; $25M at lender's discretion.
- Interest rate at prime plus 1.05% or 8.05% (greater); maturity December 1, 2028.
- Cash and investments $457.2M as of Sept 30, 2024; company believes existing cash funds operations through 2026.
- CFO cites transformational data from AL002 Phase 2 and latozinemab Phase 3 trials within current runway.
- Facility is secured by substantially all assets, with exceptions for certain existing agreements.

## SEC filing metadata
- accession: 0000950170-24-127056
- form_type: 8-K
- ticker: ALEC
- cik: 0001653087
- company_name: Alector, Inc.
- filed_at: 2024-11-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1653087/000095017024127056/0000950170-24-127056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1653087/000095017024127056/alec-20241114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-127056
- JSON: https://secwatch.observer/filing/0000950170-24-127056.json
- Plain text: https://secwatch.observer/filing/0000950170-24-127056.txt

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