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

Issuer:     Opus Genetics, Inc. (IRD)
CIK:        0001228627
Form:       8-K
Filed at:   2026-04-07T23:59:59+00:00
Accession:  0001140361-26-013394
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1228627/000114036126013394/0001140361-26-013394-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1228627/000114036126013394/ef20069962_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-013394

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