secwatch.observer — SEC 8-K summary
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Issuer:     IO Biotech, Inc. (IOBTQ)
CIK:        0001865494
Form:       8-K
Filed at:   2024-12-20T23:59:59+00:00
Accession:  0001193125-24-282502
Event type: debt
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IO Biotech secures up to €57.5M EIB debt facility; extends cash runway into Q2 2026
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- Total committed tranches of €37.5M (Tranche A €10M, B €12.5M, C €15M) plus €20M uncommitted accordion.
- First two tranches expected for disbursement in Q1 2025; each tranche matures in 6 years at 8% fixed interest.
- Tranche C requires $50M cash raise and US or EU marketing authorization submission for IO102-IO103 within 36 months.
- Warrants to be issued to EIB upon each tranche disbursement; loan is unsecured with no minimum cash covenants.
- Cash runway now expected into Q2 2026, funding ongoing clinical trials and pre-commercialization activities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1865494/000119312524282502/0001193125-24-282502-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1865494/000119312524282502/d815097d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-282502

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