---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-112653"
form_type: "8-K"
ticker: "TELA"
cik: "0001561921"
company_name: "TELA Bio, Inc."
filed_at: "2025-11-14T23:59:59+00:00"
generated_at: "2026-05-16T19:51:25.254916+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# TELA Bio secures $70M Perceptive term loan and launches approximately $11.9M equity offering; terminates MidCap facility

## Summary
- $60M initial loan funded Nov 14, 2025; optional $10M delayed draw. Matures Nov 14, 2030. Interest: 7.85% margin + greater of Reference Rate or 4.25%.
- Issued Perceptive warrants for up to 2,333,333 shares at $1.11 exercise price, expiring 2035; warrants are cashless-exercisable and freely transferable.
- Registered direct offering: 4,189,000 common shares and 7,523,000 pre-funded warrants at $1.11/$1.1099; expected net proceeds of ~$11.9M for general corporate purposes, closing Nov 17, 2025.
- Terminated Credit & Security Agreement with MidCap Financial Trust; all MidCap security interests released.
- Minimum liquidity covenant of $5.0M; revenue covenant specified in agreement; post-closing condition: company must receive at least $8.5M gross from equity offering.

## SEC filing metadata
- accession: 0001104659-25-112653
- form_type: 8-K
- ticker: TELA
- cik: 0001561921
- company_name: TELA Bio, Inc.
- filed_at: 2025-11-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1561921/000110465925112653/0001104659-25-112653-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1561921/000110465925112653/tm2531310d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-112653
- JSON: https://secwatch.observer/filing/0001104659-25-112653.json
- Plain text: https://secwatch.observer/filing/0001104659-25-112653.txt

## Key facts
- Equity Issuances
  TELA Bio, Inc. issued up to 333,333 shares of warrant to Perceptive Credit Holdings V, LP for in connection with the Delayed Draw Loan.
  - Security: warrant
  - Shares: up to 333,333 shares
  - Purchaser: Perceptive Credit Holdings V, LP
  - Consideration: in connection with the Delayed Draw Loan
  source text: the Company will issue to Perceptive warrants to purchase up to 333,333 shares of its Common Stock, with an exercise price of $1.11
  evidence_url: https://www.sec.gov/Archives/edgar/data/1561921/000110465925112653/0001104659-25-112653-index.htm

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