TScan secures up to $60M convertible debt facility with K2 HealthVentures; initial $30M tranche funds

TScan Therapeutics, Inc.

Loan and Security Agreement with K2 HealthVentures for up to $60M in convertible term loans.
First tranche of $30M fully funded at closing; second $10M and third $20M tranches subject to milestones and lender discretion.
Loans mature September 1, 2026; interest-only payments for 24 months (extendable to 36 on milestones), then amortize.
Interest rate is greater of 8.75% or Prime + 4.75%, capped at 9.90%; loan convertible at $4.785/share for first tranche.
Cash runway extended into Q2 2024; funds to support IND filings and solid tumor multiplexing trials.

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