secwatch.observer — SEC 8-K summary
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Issuer:     T2 Biosystems, Inc. (—)
CIK:        0001492674
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001193125-24-100790
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 5.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

T2 Biosystems converts $15M of debt to equity; extends PIK interest option to Dec 2025
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- $15M of term loans converted into 3,280,618 common shares and 17,160.48 Series A Convertible Preferred shares.
- Each Series A share convertible into 100 common shares; outstanding loan principal reduced to ~$26.79M.
- Consent and Amendment No. 10 extends PIK period through earlier of Dec 31, 2025 or default.
- Change of Control definition amended to exclude stock acquisitions by CRG lenders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492674/000119312524100790/0001193125-24-100790-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492674/000119312524100790/d786433d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-100790

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer