secwatch.observer — SEC 8-K summary
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Issuer:     CASTLE BIOSCIENCES INC (CSTL)
CIK:        0001447362
Form:       8-K
Filed at:   2024-03-27T23:59:59+00:00
Accession:  0001193125-24-078933
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Castle Biosciences secures $35M SVB loan facility; appoints Rodney Cotton to board
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- Entered Loan Agreement with Silicon Valley Bank for $10M drawn, $25M additional available.
- Proceeds to fund future HQ office building and working capital; interest at WSJ Prime +0.25% (floor 6%).
- Interest-only through Nov 2025 (extendable to Nov 2026); maturity Nov 2028; secured by most assets.
- Director Mara Aspinall not standing for re-election; Rodney Cotton (ex-Roche) appointed as Class II director.
- Cotton receives initial RSU valued at $350K vesting over 3 years plus annual $45K cash retainer.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1447362/000119312524078933/0001193125-24-078933-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1447362/000119312524078933/d782226d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-078933

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