secwatch.observer — SEC 8-K summary
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Issuer:     Werewolf Therapeutics, Inc. (HOWL)
CIK:        0001785530
Form:       8-K
Filed at:   2022-04-15T23:59:59+00:00
Accession:  0001193125-22-106804
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Werewolf Therapeutics secures $40M loan facility; director resigns
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1785530/000119312522106804/0001193125-22-106804-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1785530/000119312522106804/d349792d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-106804

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