secwatch.observer — SEC 8-K summary
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Issuer:     Verastem, Inc. (VSTM)
CIK:        0001526119
Form:       8-K
Filed at:   2026-08-06T23:33:15+00:00
Accession:  0001104659-26-092216
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Verastem adds up to $75M Revenue Notes; $50M tranche set for Aug 28, 2026
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- Amendment No. 3 creates new Revenue Notes series (up to $75M) replacing conditional $25M and $50M Initial Note tranches.
- $50M tranche issues Aug 28, 2026; optional $25M tranche open until May 15, 2027 if quarterly avutometinib/defactinib net sales hit $40M.
- Revenue Payment Percentage is 4.50%, falling to 1.75% after Dec 31, 2031 if cumulative payments reach 100% of Funded Amount; maturity June 30, 2033.
- Repayment amounts range from 135% to 185% of Funded Amount depending on timing; up to 25% can be paid in VSTM common stock on US IP sale.
- Initial Notes' $75M principal, 9.75% interest cap, and no financial covenants remain; obligations secured by substantially all assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1526119/000110465926092216/0001104659-26-092216-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1526119/000110465926092216/tm2622452d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-092216

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