---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-323802"
form_type: "8-K"
ticker: "TMCI"
cik: "0001630627"
company_name: "TREACE MEDICAL CONCEPTS, INC."
filed_at: "2025-12-18T23:59:59+00:00"
generated_at: "2026-05-16T12:45:07.234444+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Treace Medical secures $175M debt facility, refinances MidCap loans; names lead independent director

## Summary
- Entered $175M senior secured loan: $60M term funded, $65M additional term (revenue-dependent), $50M revolver (expandable from $30M).
- Proceeds used to repay $50M term and $4M revolver from MidCap loans; paid $2.3M in prepayment/exit fees.
- Term loan at 1-month SOFR (floor 3%) + 5.05%; revolver at 3-month SOFR (floor 3%) + 4%; interest-only for 48 months.
- Post-refinancing liquidity ~$165M; dividends restricted under loan covenants.
- Board appointed John K. Bakewell as lead independent director; former CFO of Exact Sciences.

## SEC filing metadata
- accession: 0001193125-25-323802
- form_type: 8-K
- ticker: TMCI
- cik: 0001630627
- company_name: TREACE MEDICAL CONCEPTS, INC.
- filed_at: 2025-12-18T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1630627/000119312525323802/0001193125-25-323802-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1630627/000119312525323802/tmci-20251216.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-323802
- JSON: https://secwatch.observer/filing/0001193125-25-323802.json
- Plain text: https://secwatch.observer/filing/0001193125-25-323802.txt

## Key facts
- Debt Financings
  TREACE MEDICAL CONCEPTS, INC. incurred revolving credit of $30 million with Gemino Healthcare Finance, LLC d/b/a SLR Healthcare ABL at 3-Month SOFR plus 4.00% maturing 60 month.
  - Instrument: revolving credit
  - Principal: $30 million
  - Counterparty: Gemino Healthcare Finance, LLC d/b/a SLR Healthcare ABL
  - Rate: 3-Month SOFR plus 4.00%
  - Maturity: 60 month
  - Event: incurrence
  source text: The Revolving Loan Agreement establishes a 60 month revolving loan facility providing $30 million in additional borrowing capacity to the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1630627/000119312525323802/0001193125-25-323802-index.htm
- Debt Financings
  TREACE MEDICAL CONCEPTS, INC. incurred term loan of up to $125 million with SLR Investment Corp. at 1-Month SOFR plus 5.05% maturing 60 month.
  - Instrument: term loan
  - Principal: up to $125 million
  - Counterparty: SLR Investment Corp.
  - Rate: 1-Month SOFR plus 5.05%
  - Maturity: 60 month
  - Event: incurrence
  source text: The Term Loan Agreement provides a 60 month term loan facility for up to $125 million in borrowing capacity to the Company over four tranches. At the loan closing, the Company drew $60 million under tranche one.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1630627/000119312525323802/0001193125-25-323802-index.htm

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