---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-311221"
form_type: "8-K"
ticker: "DYN"
cik: "0001818794"
company_name: "Dyne Therapeutics, Inc."
filed_at: "2025-12-08T23:59:59+00:00"
generated_at: "2026-05-16T14:03:25.557288+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Dyne Therapeutics borrows $50M under amended Hercules loan; up to $125M additional available

## Summary
- Borrowed $50M second tranche under amended Loan and Security Agreement with Hercules Capital.
- Two additional tranches of up to $75M available upon achieving clinical, regulatory, and commercial milestones.
- Final tranche of up to $50M subject to Lenders' investment committee approval.
- Maturity July 1, 2030; interest at WSJ Prime + 2.45% (floor 7.50%); interest-only until July 2028.
- Collateral includes first-priority security interest in substantially all assets, including IP.

## SEC filing metadata
- accession: 0001193125-25-311221
- form_type: 8-K
- ticker: DYN
- cik: 0001818794
- company_name: Dyne Therapeutics, Inc.
- filed_at: 2025-12-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.03, 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1818794/000119312525311221/0001193125-25-311221-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1818794/000119312525311221/d16982d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-311221
- JSON: https://secwatch.observer/filing/0001193125-25-311221.json
- Plain text: https://secwatch.observer/filing/0001193125-25-311221.txt

## Key facts
- Debt Financings
  Dyne Therapeutics, Inc. incurred term loan of $50.0 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: term loan
  - Principal: $50.0 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: On December 8, 2025 (the “Amendment Closing Date”), Dyne Therapeutics, Inc. (the “Company”) entered into the First Amendment (the “First Amendment”) to Loan and Security Agreement with Hercules Capital, Inc. (“Hercules”), in its capacity as administrative agent and collateral agent (the “Agent”), and certain other financial institutions party thereto as lenders (collectively, the “Lenders”). The First Amendment amended certain of the tranche sizes and funding milestone requirements under the Loan and Security Agreement, dated as of June 27, 2025 (the “Initial Loan Agreement” and, such Initial Loan Agreement as amended by the First Amendment, the “Loan Agreement”), by and among the Company, Hercules and the Lenders and permitted the Company to borrow, as of the Amendment Closing Date, a second term loan tranche in an aggregate principal amount of $50.0 million. Following entry into the First Amendment and the borrowing of the second term loan tranche, the Company has two additional term
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818794/000119312525311221/0001193125-25-311221-index.htm

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