Journey Medical increases credit facility to $25M, appoints new director Michael C. Pearce

Journey Medical Corp

Credit facility increased from $20M to $25M; additional $5M available upon FDA approval of DFD-29 by June 30, 2025.
Term loan matures Dec 27, 2027; interest = 3-month SOFR (floor 5%) + 7.75%.
Principal repayment starts Feb 2026 at 7.5% quarterly; delayed if trailing revenue >$70M as of Dec 2025.
Appointed Michael C. Pearce to Board (size now six); receives 30,000 RSUs, $50K annual RSU grant, $50K cash retainer.
Adopted non-qualified deferred compensation plan for non-employee directors and select executives.

item 1.01 item 2.03 item 5.02

Executive movements

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Appointed

Michael C. Pearce

Director

DERM · Journey Medical Corp

Effective: 2024-07-09
Filed: July 12, 2024, 7:59 PM ET

appointed Michael C. Pearce, age 62, to serve on the Board

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Michael C. Pearce was appointed as Director at Journey Medical Corp.

Action: appointed
Role: Director

Exact text from the filing

appointed Michael C. Pearce, age 62, to serve on the Board

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Journey Medical Corp filing history →

Source: SEC EDGAR

accession 0001104659-24-079596

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