{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-100447","form_type":"8-K","ticker":"XGN","cik":"0001274737","company_name":"EXAGEN INC.","filed_at":"2025-04-28T23:59:59+00:00","discovered_at":"2026-05-14T18:02:47.812571+00:00","generated_at":"2026-05-23T04:46:29.064615+00:00","sec_items":["1.01","2.03","3.02","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Exagen secures up to $75M term loan from Perceptive; $25M funded to retire existing debt","bullets":["$25M funded at closing used to retire Innovatus debt; net proceeds ~$22.8M after costs.","Additional tranches: $10M (by Mar 2026), $10M (by Dec 2026), $30M (BD by Mar 2027) subject to revenue milestones.","Interest: Term SOFR + 7% (floor 4.75%), interest-only for 60 months, maturity April 25, 2030.","Warrants for 400k shares issued at close (exercise $4.96/$5.58); up to 750k more for future tranches.","Loan secured by substantially all assets; covenants include $3M min cash and quarterly net revenue targets."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-100447","json":"https://secwatch.observer/filing/0001193125-25-100447.json","markdown":"https://secwatch.observer/filing/0001193125-25-100447.md","text":"https://secwatch.observer/filing/0001193125-25-100447.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1274737/000119312525100447/0001193125-25-100447-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1274737/000119312525100447/d811854d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T04:46:29.064615+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}