---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-120045"
form_type: "8-K"
ticker: "MCRB"
cik: "0001609809"
company_name: "Seres Therapeutics, Inc."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:00:31.146918+00:00"
event_type: "regulatory"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Seres Therapeutics announces FDA approval of VOWST for C. diff prevention and $250M Oaktree credit facility

## Summary
- FDA approved VOWST (fecal microbiota spores) to prevent recurrent C. difficile infection; launch expected June 2023.
- $125M milestone payment due from Nestlé under joint commercialization agreement upon approval.
- Entered $250M Oaktree credit facility; initial $110M tranche funded, net proceeds ~$50M after repaying Hercules debt.
- Issued warrants to lenders for 647,589 shares at $6.69/share; additional warrants tied to future tranches.
- Preliminary cash and equivalents ~$107M as of March 31, 2023.

## SEC filing metadata
- accession: 0001193125-23-120045
- form_type: 8-K
- ticker: MCRB
- cik: 0001609809
- company_name: Seres Therapeutics, Inc.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: regulatory
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609809/000119312523120045/0001193125-23-120045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609809/000119312523120045/d200991d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-120045
- JSON: https://secwatch.observer/filing/0001193125-23-120045.json
- Plain text: https://secwatch.observer/filing/0001193125-23-120045.txt

## Key facts
- Material Agreements
  Seres Therapeutics, Inc. entered into Credit Agreement with Oaktree Fund Administration, LLC, as administrative agent, and the lenders from time to time party thereto valued at $250 million (effective 2023-04-27).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Oaktree Fund Administration, LLC, as administrative agent, and the lenders from time to time party thereto
  - Value: $250 million
  - Effective: 2023-04-27
  source text: On April 27, 2023 (the “Closing Date”), Seres Therapeutics, Inc., a Delaware corporation (the “Company”) entered into a Credit Agreement and Guaranty (the “Credit Agreement”), among the Company, the subsidiary guarantors from time to time party thereto, the lenders from time to time party thereto (the “Lenders”), and Oaktree Fund Administration, LLC, in its capacity as administrative agent for the Lenders (in such capacity, the “Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609809/000119312523120045/0001193125-23-120045-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.