secwatch.observer — SEC 8-K summary
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Issuer:     Cogent Biosciences, Inc. (COGT)
CIK:        0001622229
Form:       8-K
Filed at:   2025-06-11T23:59:59+00:00
Accession:  0001193125-25-138813
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cogent Biosciences secures up to $400M non-dilutive debt facility; $50M drawn at closing
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1622229/000119312525138813/0001193125-25-138813-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1622229/000119312525138813/d21181d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-138813

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