---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-066225"
form_type: "8-K"
ticker: "TELA"
cik: "0001561921"
company_name: "TELA Bio, Inc."
filed_at: "2022-05-31T23:59:59+00:00"
generated_at: "2026-06-25T05:53:00.574632+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# TELA Bio enters $50M credit facility with MidCap; repays $33.2M OrbiMed debt

## Summary
- Borrowed $40.0M upfront from $50.0M term loan facility; unused $10M Tranche 2 conditional on reaching $65M net revenue by FY2023.
- Repaid outstanding $33.2M under existing OrbiMed credit agreement.
- Loan bears interest at 6.25% plus one-month Term SOFR (floor 1.0%), matures May 1, 2027.
- Interest-only for 36 months, extendable to 48 months subject to covenant compliance; then amortization.
- Prepayment fee 3% in year one, 2% year two, 1% year three; plus 5% exit fee on principal.

## SEC filing metadata
- accession: 0001104659-22-066225
- form_type: 8-K
- ticker: TELA
- cik: 0001561921
- company_name: TELA Bio, Inc.
- filed_at: 2022-05-31T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1561921/000110465922066225/0001104659-22-066225-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1561921/000110465922066225/tm2217085d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-066225
- JSON: https://secwatch.observer/filing/0001104659-22-066225.json
- Plain text: https://secwatch.observer/filing/0001104659-22-066225.txt

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