---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-000325"
form_type: "8-K"
ticker: "DERM"
cik: "0001867066"
company_name: "Journey Medical Corp"
filed_at: "2024-01-02T23:59:59+00:00"
generated_at: "2026-06-07T05:32:40.343390+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Journey Medical secures up to $20M credit facility from SWK Holdings for DFD-29 launch and general purposes

## Summary
- Entered into credit facility with SWK Funding LLC for up to $20M; initial draw of $15M on Dec 27, 2023.
- Additional $5M available within 12 months subject to operational and financial milestones.
- Term loan matures Dec 27, 2027; interest rate = 3-month SOFR (floor 5%) + 7.75%, quarterly payments.
- Funds to support general corporate purposes and DFD-29 NDA submission and potential commercial launch.
- Prepayment premium: 2% if within 1 year, 1% if between 1-2 years, 0% thereafter; exit fee of 5% of original principal.

## SEC filing metadata
- accession: 0001104659-24-000325
- form_type: 8-K
- ticker: DERM
- cik: 0001867066
- company_name: Journey Medical Corp
- filed_at: 2024-01-02T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1867066/000110465924000325/0001104659-24-000325-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1867066/000110465924000325/tm2333941d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-000325
- JSON: https://secwatch.observer/filing/0001104659-24-000325.json
- Plain text: https://secwatch.observer/filing/0001104659-24-000325.txt

## Key facts
- Material Agreements
  Journey Medical Corp entered into Credit Agreement with SWK Funding LLC valued at up to $20 million (effective 2023-12-27).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: SWK Funding LLC
  - Value: up to $20 million
  - Effective: 2023-12-27
  source text: On December 27, 2023 (the “ Closing Date ”), Journey Medical Corporation (the “ Company ”) entered into a Credit Agreement (the “ Credit Agreement ”), by and among the Company and SWK Funding LLC and the other the financial institutions party thereto from time to time, as lenders. The Credit Agreement provides for a term loan facility (the “ Credit Facility ”) in the original principal amount of up to $20 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1867066/000110465924000325/0001104659-24-000325-index.htm

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