--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-23-092216" form_type: "8-K" ticker: "CERS" cik: "0001020214" company_name: "CERUS CORP" filed_at: "2023-04-05T23:59:59+00:00" generated_at: "2026-06-17T05:36:58.183416+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.65 calibrated_materiality_score: 0.65 confidence: "high" source: SEC EDGAR --- # Cerus enters into $75M term loan and $20M revolver credit agreements with MidCap ## Summary - Borrowed $40M (Tranche 1) and $15M (Tranche 2) on closing to refinance existing term loans. - Additional $10M tranches available through July 2025 for working capital. - Revolving facility of $20M (expandable by $15M) with $18M drawn at closing; matures March 2028. - Interest rates: Term SOFR + 6.50% (term loan) and +3.75% (revolver); interest-only for 36 months on term loan. - Covenants include trailing twelve-month minimum net revenue requirement, tested quarterly. ## SEC filing metadata - accession: 0001193125-23-092216 - form_type: 8-K - ticker: CERS - cik: 0001020214 - company_name: CERUS CORP - filed_at: 2023-04-05T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.65 - calibrated_materiality_score: 0.65 - confidence: high - sec_items: 1.01, 1.02, 2.03 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1020214/000119312523092216/0001193125-23-092216-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1020214/000119312523092216/d445954d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-23-092216 - JSON: https://secwatch.observer/filing/0001193125-23-092216.json - Plain text: https://secwatch.observer/filing/0001193125-23-092216.txt ## Key facts - Debt Financings CERUS CORP incurred revolving credit of up to $20.0 million with MidCap Funding IV Trust, as agent and a lender at Term SOFR rate (subject to a floor of 1.00%) plus 3.75% maturing March 1, 2028. - Instrument: revolving credit - Principal: up to $20.0 million - Counterparty: MidCap Funding IV Trust, as agent and a lender - Rate: Term SOFR rate (subject to a floor of 1.00%) plus 3.75% - Maturity: March 1, 2028 - Event: incurrence source text: Exit Fee in connection with any prepayment. The Revolving Loan Credit Agreement provides a secured revolving credit facility in an initial aggregate principal amount of up to $20.0 million. The Company may request an increase in the total commitments under the Revolving Loan Credit Agreement by up to an additional $15.0 million, subject to agent and lender approval evidence_url: https://www.sec.gov/Archives/edgar/data/1020214/000119312523092216/0001193125-23-092216-index.htm - Debt Financings CERUS CORP incurred term loan of up to $75.0 million with MidCap Financial Trust, as agent and a lender at Term SOFR rate (subject to a floor of 1.00%) plus 6.50%. - Instrument: term loan - Principal: up to $75.0 million - Counterparty: MidCap Financial Trust, as agent and a lender - Rate: Term SOFR rate (subject to a floor of 1.00%) plus 6.50% - Event: incurrence source text: 2019, as amended (the “Existing Revolving Loan Credit Agreement”). The Term Loan Credit Agreement provides a secured term loan facility in an aggregate principal amount of up to $75.0 million. The Company borrowed the first advance of $40.0 million (“Tranche 1”) and the second advance of $15.0 million (“Tranche 2”) on the Closing Date to refinance the term loans under evidence_url: https://www.sec.gov/Archives/edgar/data/1020214/000119312523092216/0001193125-23-092216-index.htm - Material Agreements CERUS CORP amended Amended and Restated Credit, Security and Guaranty Agreement (Term Loan) with MidCap Financial Trust, as agent and a lender valued at up to $75.0 million (effective 2023-03-31). - Action: amendment - Agreement: credit facility - Counterparty: MidCap Financial Trust, as agent and a lender - Value: up to $75.0 million - Effective: 2023-03-31 source text: On March 31, 2023, (the “Closing Date”), Cerus Corporation (the “Company”) entered into (i) an Amended and Restated Credit, Security and Guaranty Agreement (Term Loan) (the “Term Loan Credit Agreement”), by and among the Company, the lenders party thereto from time to time and MidCap Financial Trust, as agent and a lender, which amended and restated the Company’s existing Credit, Security and Guaranty Agreement (Term Loan), dated as of March 29, 2019, as amended (the “Existing Term Loan Credit Agreement”) evidence_url: https://www.sec.gov/Archives/edgar/data/1020214/000119312523092216/0001193125-23-092216-index.htm - Material Agreements CERUS CORP amended Amended and Restated Credit, Security and Guaranty Agreement (Revolving Loan) with MidCap Funding IV Trust, as agent and a lender valued at up to $20.0 million (effective 2023-03-31). - Action: amendment - Agreement: credit facility - Counterparty: MidCap Funding IV Trust, as agent and a lender - Value: up to $20.0 million - Effective: 2023-03-31 source text: and (ii) an Amended and Restated Credit, Security and Guaranty Agreement (Revolving Loan) (the “Revolving Loan Credit Agreement,” and together with the Term Loan Credit Agreement, the “Credit Agreements”), by and among the Company, the lenders party thereto from time to time and MidCap Funding IV Trust, as agent and a lender, which amended and restated the Company’s existing Credit, Security and Guaranty Agreement (Revolving Loan), dated as of March 29, 2019, as amended (the “Existing Revolving Loan Credit Agreement”) evidence_url: https://www.sec.gov/Archives/edgar/data/1020214/000119312523092216/0001193125-23-092216-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.