secwatch.observer — SEC 8-K summary
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Issuer:     Verastem, Inc. (VSTM)
CIK:        0001526119
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001104659-23-037143
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1526119/000110465923037143/0001104659-23-037143-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1526119/000110465923037143/tm2310577d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-037143

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