secwatch.observer — SEC 8-K summary
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Issuer:     DarioHealth Corp. (DRIO)
CIK:        0001533998
Form:       8-K
Filed at:   2022-06-13T23:59:59+00:00
Accession:  0001104659-22-070560
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DarioHealth secures $50M non-dilutive credit facility with OrbiMed; $25M drawn at close
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- $50M senior secured term loan from OrbiMed; $25M funded at closing, $25M available before June 30, 2023 subject to revenue thresholds.
- Interest rate: adjusted SOFR + 9.50% (floor 0.50%); warrants issued for 226,586 shares at $6.62, 7-year term.
- CEO states cash runway potentially >$100M, enabling multi-year business plan without further capital raises.
- Facility is non-dilutive, supports B2B segment growth and platform development.
- Obligations secured by substantially all assets; $10M minimum unrestricted cash covenant; subsidiary guarantees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1533998/000110465922070560/0001104659-22-070560-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1533998/000110465922070560/tm2218154d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-070560

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