secwatch.observer — SEC 8-K summary
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Issuer:     scPharmaceuticals Inc. (—)
CIK:        0001604950
Form:       8-K
Filed at:   2025-09-24T23:59:59+00:00
Accession:  0001193125-25-214262
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

scPharmaceuticals issues $10M promissory note to MannKind as bridge loan pending merger
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- Unsecured note for $10M issued to MannKind Corp. on Sept 23, 2025.
- Interest at 9.00467% initially, tied to MannKind's SOFR loan rate plus margin.
- Maturity on earliest of Sept 23, 2026, termination fee payment, or superior proposal close.
- Loan is in connection with the Aug 24, 2025 Merger Agreement for MannKind to acquire scPharmaceuticals.
- Covenants mirror existing Perceptive credit agreement; baskets for debt and liens increased 25%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604950/000119312525214262/0001193125-25-214262-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604950/000119312525214262/d62041d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-214262

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