---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-037143"
form_type: "8-K"
ticker: "VSTM"
cik: "0001526119"
company_name: "Verastem, Inc."
filed_at: "2023-03-27T23:59:59+00:00"
generated_at: "2026-06-17T14:47:47.763251+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Verastem draws $15M Term B Loan from Oxford Finance facility

## Summary
- Drew $15M Term B Loan on March 22, 2023, after receiving at least $50M in equity proceeds.
- Loan carries floating rate of SOFR (floor 0.13%) + 7.37%; interest payable monthly.
- Repayment begins April 1, 2025; maturity March 1, 2027; final payment of 5% of original principal.
- Prepayment fees range from 1% to 3% depending on timing; no financial covenants.
- Total facility up to $150M; previous draw $25M, now total drawn $40M.

## SEC filing metadata
- accession: 0001104659-23-037143
- form_type: 8-K
- ticker: VSTM
- cik: 0001526119
- company_name: Verastem, Inc.
- filed_at: 2023-03-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1526119/000110465923037143/0001104659-23-037143-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1526119/000110465923037143/tm2310577d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-037143
- JSON: https://secwatch.observer/filing/0001104659-23-037143.json
- Plain text: https://secwatch.observer/filing/0001104659-23-037143.txt

## Key facts
- Debt Financings
  Verastem, Inc. incurred term loan of $15.0 million Term B Loan with Oxford Finance LLC and Oxford Finance Credit Fund III LP at the greater of (i) the one-month CME Secured Overnight Financing Rate and (ii) 0 maturing March 1, 2027.
  - Instrument: term loan
  - Principal: $15.0 million Term B Loan
  - Counterparty: Oxford Finance LLC and Oxford Finance Credit Fund III LP
  - Rate: the greater of (i) the one-month CME Secured Overnight Financing Rate and (ii) 0
  - Maturity: March 1, 2027
  - Event: incurrence
  source text: On March 22, 2023, the Company elected to draw down the $15.0 million Term B Loan, having received at least $50.0 million in unrestricted cash proceeds from the sale or issuance of equity securities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1526119/000110465923037143/0001104659-23-037143-index.htm

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