---
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"
generated_at: "2026-05-17T05:36:27.487524+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Journey Medical extends term loan maturity to June 2028 and lowers revenue threshold for deferred repayment to $60M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-093891
- JSON: https://secwatch.observer/filing/0001104659-25-093891.json
- Plain text: https://secwatch.observer/filing/0001104659-25-093891.txt

## Key facts
- Debt Financings
  Journey Medical Corp amended term loan of $25.0 million with SWK Funding LLC maturing June 27, 2028.
  - Instrument: term loan
  - Principal: $25.0 million
  - Counterparty: SWK Funding LLC
  - Maturity: June 27, 2028
  - Event: amendment
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1867066/000110465925093891/0001104659-25-093891-index.htm

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