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.

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