secwatch.observer — SEC 8-K summary
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Issuer:     Pulmonx Corp (LUNG)
CIK:        0001127537
Form:       8-K
Filed at:   2026-03-05T23:59:59+00:00
Accession:  0001193125-26-092064
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pulmonx enters $60M secured credit facility with Perceptive; draws $40M upfront
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- $60M senior secured term loan from Perceptive; $40M drawn at closing, up to $20M additional tranches tied to $92.5M and $100M revenue milestones.
- Interest rate: SOFR + 7.00% margin (minimum SOFR floor 3.75%); up to 2% margin can be paid-in-kind for 36 months.
- Issued warrants to Perceptive for 1M shares at $1.92 (25% premium to 10-day VWAP); additional warrants on delayed draw fundings.
- Maturity March 2, 2031; prepayment premium of 2-10% if within first 4 years; exit fee of 1.5%; minimum liquidity covenant of $4M.
- Repaid and terminated existing CIBC credit agreement; no termination fees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1127537/000119312526092064/0001193125-26-092064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1127537/000119312526092064/d126478d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-092064

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