{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-093891","form_type":"8-K","ticker":"DERM","cik":"0001867066","company_name":"Journey Medical Corp","filed_at":"2025-09-26T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.451666+00:00","generated_at":"2026-05-17T05:36:27.487524+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Journey Medical extends term loan maturity to June 2028 and lowers revenue threshold for deferred repayment to $60M","bullets":["Maturity of $25M Term Loan extended from Dec 27, 2027 to June 27, 2028.","If trailing 12-month revenue > $60M as of Dec 31, 2025 (down from $70M), principal repayment deferred to Feb 2027.","Without revenue trigger, quarterly repayment begins Feb 2026 at 7.5% of principal.","With revenue trigger, quarterly repayment at 10% starting Feb 2027 (down from 15%).","All $25M drawn; agreement amended with SWK Funding LLC."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-093891","json":"https://secwatch.observer/filing/0001104659-25-093891.json","markdown":"https://secwatch.observer/filing/0001104659-25-093891.md","text":"https://secwatch.observer/filing/0001104659-25-093891.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1867066/000110465925093891/0001104659-25-093891-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1867066/000110465925093891/tm2527082d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T05:36:27.487524+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"02a2da8247330fc9cdcde5da6ccb74add2e3935e","claim":"Journey Medical Corp amended term loan of $25.0 million with SWK Funding LLC maturing June 27, 2028.","evidence_excerpt":"October 21, 2024 and the Third Amendment, the “Amended Credit Agreement”). The Amended Credit Agreement provides for a term loan facility in the original principal amount of $25.0 million. As of the date of this report, the Company has drawn the full $25.0 million, which is treated under the Amended Credit Agreement as a single loan (the “Term Loan”). The Third","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1867066/000110465925093891/0001104659-25-093891-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$25.0 million"},{"label":"Counterparty","value":"SWK Funding LLC"},{"label":"Maturity","value":"June 27, 2028"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}