---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-152652"
form_type: "8-K"
ticker: "DYN"
cik: "0001818794"
company_name: "Dyne Therapeutics, Inc."
filed_at: "2025-06-30T23:59:59+00:00"
generated_at: "2026-05-18T14:35:23.308849+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Dyne Therapeutics enters $275M loan agreement with Hercules Capital; $100M funded immediately

## Summary
- Initial tranche of $100M funded on June 27, 2025; additional tranches up to $175M available upon milestones and lender discretion.
- Interest rate of WSJ Prime + 2.45% (floor 7.50%); maturity July 1, 2030; interest-only until July 1, 2028, extendable.
- First-priority security interest on substantially all assets including IP; covenants include minimum cash and minimum net product revenue post-approval of DYNE-101 or DYNE-251.
- Prepayment penalty ranges from 0.75% to 2.0% of prepaid amount; end-of-term charge of 5.5%.

## SEC filing metadata
- accession: 0001193125-25-152652
- form_type: 8-K
- ticker: DYN
- cik: 0001818794
- company_name: Dyne Therapeutics, Inc.
- filed_at: 2025-06-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1818794/000119312525152652/0001193125-25-152652-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1818794/000119312525152652/d80696d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-152652
- JSON: https://secwatch.observer/filing/0001193125-25-152652.json
- Plain text: https://secwatch.observer/filing/0001193125-25-152652.txt

## Key facts
- Debt Financings
  Dyne Therapeutics, Inc. incurred credit facility of up to $275.0 million with Hercules Capital, Inc. at Wall Street Journal prime rate, subject to a floor of 7.50%, plus 2.45% maturing July 1, 2030.
  - Instrument: credit facility
  - Principal: up to $275.0 million
  - Counterparty: Hercules Capital, Inc.
  - Rate: Wall Street Journal prime rate, subject to a floor of 7.50%, plus 2.45%
  - Maturity: July 1, 2030
  - Event: incurrence
  source text: The Loan Agreement provides for term loans in an aggregate principal amount of up to $275.0 million under multiple tranches
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818794/000119312525152652/0001193125-25-152652-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.