secwatch.observer — SEC 8-K summary
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Issuer:     Alto Neuroscience, Inc. (ANRO)
CIK:        0001999480
Form:       8-K
Filed at:   2025-01-16T23:59:59+00:00
Accession:  0001193125-25-007383
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alto Neuroscience expands credit facility to $75M, extends maturity to 2029
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- Maturity extended from Dec 2026 to Jan 2029; max facility raised from $35M to $75M.
- $20M funded at closing; up to $30M tranche contingent on milestones, $25M tranche subject to lender approval.
- Interest: Prime +1.45% (floor 8.45%) plus 1% PIK; cash runway covenant begins Jan 2026.
- Loan conversion feature: up to $9M convertible at $10.49 (first $4M) and $4.8259 (next $5M).
- Warrants repriced to $3.7122; new warrant issued for additional shares expiring Jan 2035.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1999480/000119312525007383/0001193125-25-007383-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1999480/000119312525007383/d891653d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-007383

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