TScan refinances convertible debt with up to $52.5M term loan from Silicon Valley Bank

TScan Therapeutics, Inc.

First tranche of $32.5M drawn at closing; used to retire $17.2M existing convertible debt with K2 HealthVentures plus $2.1M exit fee.
Second tranche of $20M available through June 30, 2026 at SVB's sole discretion.
Interest rate is greater of 7.00% or prime minus 0.75%, capped at 9.75%; maturity September 1, 2029 with interest-only through Sept 2027 if milestones met.
Company expects cash resources to fund operating plan into Q4 2026.

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