secwatch.observer — SEC 8-K summary
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Issuer:     CERUS CORP (CERS)
CIK:        0001020214
Form:       8-K
Filed at:   2023-04-05T23:59:59+00:00
Accession:  0001193125-23-092216
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Cerus enters into $75M term loan and $20M revolver credit agreements with MidCap
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1020214/000119312523092216/0001193125-23-092216-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1020214/000119312523092216/d445954d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-092216

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