Werewolf Therapeutics secures $40M loan facility; director resigns

Werewolf Therapeutics, Inc.

Up to $40M term loan from Pacific Western Bank: $20M available immediately, $20M contingent on FDA acceptance of two INDs by March 2023.
Loan initially undrawn; interest at prime + 0.5% (floor 4.50%); interest-only until Amortization Date (Feb 2024, extendable), then 24-month amortization.
Covenant requires raising $50M gross proceeds from equity or partnerships by Sept 30, 2023, and maintaining $20M unrestricted cash thereafter.
Loan secured by personal property excluding IP; no prepayment penalty; success fee on certain corporate transactions.
Director Sakae Asanuma resigned from board effective April 15, 2022.

item 1.01 item 2.03 item 5.02 item 9.01

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Departed

Sakae Asanuma

Director

HOWL · Werewolf Therapeutics, Inc.

Effective: 2022-04-15
Filed: April 15, 2022, 7:59 PM ET

On April 12, 2022, Sakae Asanuma submitted his resignation from the Board of Directors of the Company effective as of April 15, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Sakae Asanuma resigned as Director at Werewolf Therapeutics, Inc..

Action: resigned
Role: Director

Exact text from the filing

On April 12, 2022, Sakae Asanuma submitted his resignation from the Board of Directors of the Company effective as of April 15, 2022.

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Werewolf Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-106804

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