Cogent Biosciences, Inc. (COGT): debt financing — Cogent Biosciences secures up to $400M non-dilutive debt facility; $50M drawn at closing

Cogent Biosciences, Inc.

$400M credit facility from SLR; first tranche of $50M funded on June 11, 2025.
Interest rate: 4.75% + greater of 1-month SOFR or 4.15%; matures June 1, 2030.
Future tranches tied to milestones: $25M after positive SUMMIT data, $75M after positive PEAK data.
$50M additional upon $85M net product revenue on trailing 6 months by June 30, 2027; $200M mutual.
Proceeds for working capital; monthly interest-only until June 1, 2028, with possible deferral to 2029.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

Cogent Biosciences, Inc. incurred term loan of $50.0 million with SLR Investment Corp. at 4.75% plus the greater of (i) one-month term SOFR, and (ii) 4.15% per annum maturing June 1, 2030.

Instrument: term loan
Principal: $50.0 million
Counterparty: SLR Investment Corp.
Rate: 4.75% plus the greater of (i) one-month term SOFR, and (ii) 4.15% per annum
Maturity: June 1, 2030
Event: incurrence

Exact text from the filing

Security Agreement provides for a non-dilutive term loan facility (the “Credit Facility”) of up to an aggregate principal amount of $400.0 million, of which a first tranche of $50.0 million was fully funded on the Closing Date, with future tranches at the Company’s election subject to achievement of milestones consisting of (a) a second tranche of $25.0 million

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Cogent Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-138813

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