---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-169552"
form_type: "8-K"
ticker: null
cik: "0001183765"
company_name: "Molecular Templates, Inc."
filed_at: "2023-06-20T23:59:59+00:00"
generated_at: "2026-06-13T20:41:20.613621+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# MTEM restructures $37.8M K2HV debt with $27.5M cash, CVR, and warrants; cuts 44% workforce

## Summary
- Paid $27.5M to settle $37.8M K2HV loan; remaining ~$10M converted to contingent value rights (CVR) with multipliers up to 2.5x.
- K2HV received warrant to buy 5,103,343 shares at $0.3919, plus right to convert $3M of CVR into 6,124,011 shares.
- Workforce reduced by ~44% (from 105 to ~46 employees) to extend cash runway while pursuing strategic alternatives.
- Company exploring strategic alternatives with Stifel; no timeline set and no assurance of a completed transaction.

## SEC filing metadata
- accession: 0001193125-23-169552
- form_type: 8-K
- cik: 0001183765
- company_name: Molecular Templates, Inc.
- filed_at: 2023-06-20T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 2.05, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1183765/000119312523169552/0001193125-23-169552-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1183765/000119312523169552/d512399d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-169552
- JSON: https://secwatch.observer/filing/0001193125-23-169552.json
- Plain text: https://secwatch.observer/filing/0001193125-23-169552.txt

## Key facts
- Debt Financings
  Molecular Templates, Inc. incurred debt of Remaining Value which is initially $10,303,646 with K2 HealthVentures LLC.
  - Principal: Remaining Value which is initially $10,303,646
  - Counterparty: K2 HealthVentures LLC
  - Event: incurrence
  source text: The payment due upon any Contingent Payment Event or an Acceleration Event is capped at an amount (the “Remaining Value”) which is initially $10,303,646
  evidence_url: https://www.sec.gov/Archives/edgar/data/1183765/000119312523169552/0001193125-23-169552-index.htm

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