secwatch.observer — SEC 8-K summary
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Issuer:     NeuroPace Inc (NPCE)
CIK:        0001528287
Form:       8-K
Filed at:   2025-06-04T23:59:59+00:00
Accession:  0001193125-25-134946
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NeuroPace secures $75M credit facility, refinances existing $60M term loan with MidCap
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- New $60M term loan and $15M revolver mature June 4, 2030; proceeds repaid $61.9M to CRG.
- Interest: SOFR +5.5% (term) and SOFR +3.75% (revolver), both with 2% floor.
- Financial covenant: min liquidity $25M; revenue target of $90M in 2026 can ease covenant levels.
- Prepayment premiums: 3% (year 1), 2% (year 2), 1% (year 3), 0% thereafter.
- Company says new facility reduces cash interest expense and provides non-dilutive growth capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1528287/000119312525134946/0001193125-25-134946-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1528287/000119312525134946/d830824d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-134946

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