secwatch.observer — SEC 8-K summary
======================================

Issuer:     TELA Bio, Inc. (TELA)
CIK:        0001561921
Form:       8-K
Filed at:   2025-11-14T23:59:59+00:00
Accession:  0001104659-25-112653
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1561921/000110465925112653/0001104659-25-112653-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1561921/000110465925112653/tm2531310d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-112653

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer