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

Issuer:     TScan Therapeutics, Inc. (TCRX)
CIK:        0001783328
Form:       8-K
Filed at:   2022-09-12T23:59:59+00:00
Accession:  0001193125-22-242437
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1783328/000119312522242437/0001193125-22-242437-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1783328/000119312522242437/d323376d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-242437

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