---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-013394"
form_type: "8-K"
ticker: "IRD"
cik: "0001228627"
company_name: "Opus Genetics, Inc."
filed_at: "2026-04-07T23:59:59+00:00"
generated_at: "2026-05-15T06:58:51.047252+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Opus Genetics secures up to $155M debt facility from Oberland Capital; cash runway extended into 2029

## Summary
- $155M senior secured notes: $35M initial (closing Apr 20, 2026), $35M option in 12 mos, $35M milestone-based (LCA5), $50M mutual agreement.
- $5M equity investment at $4.48/share; 1,116,070 shares issued to Oberland affiliates.
- Notes mature Apr 2033; floating rate (SOFR + margin, 3.68% floor); 50% PIK first 8 quarters; 10% convertible at $6.72/share.
- Cash ~$100M including initial funding; runway extended into 2029 through pivotal studies and potential approvals.
- Pipeline acceleration: OPGx-RDH12 (Q4 2026), OPGx-MERTK (end 2026), OPGx-RHO (2027) entering clinic.

## SEC filing metadata
- accession: 0001140361-26-013394
- form_type: 8-K
- ticker: IRD
- cik: 0001228627
- company_name: Opus Genetics, Inc.
- filed_at: 2026-04-07T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1228627/000114036126013394/0001140361-26-013394-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1228627/000114036126013394/ef20069962_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-013394
- JSON: https://secwatch.observer/filing/0001140361-26-013394.json
- Plain text: https://secwatch.observer/filing/0001140361-26-013394.txt

## Source-grounded claims
- claim_id: dc52974097ab00fda66834f9928931b4725da576
  claim: Opus Genetics, Inc. entered into Note Purchase Agreement with OPCM SA LLC valued at up to $155 million (effective 2026-04-02).
  evidence_excerpt: On April 2, 2026, Opus Genetics, Inc., a Delaware corporation (the “Company”), and certain of its subsidiaries as guarantors, entered into a senior secured note purchase agreement (the “Note Purchase Agreement”) with OPCM SA LLC, as purchaser agent (“Purchaser Agent”), and certain purchasers party thereto (the “Purchasers”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1228627/000114036126013394/0001140361-26-013394-index.htm

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