4D Molecular Therapeutics secures up to $200M term loan facility with Hercules Capital

4D Molecular Therapeutics, Inc.

Initial $20M drawn at closing; additional tranches available up to $200M total, maturing June 1, 2031.
Interest rate: prime + 2.00% (min 8.75%) for Tranche 1A; other tranches prime + 2.50% (min 9.25%).
Covenants include minimum cash test when borrowings exceed $25M or $50M; performance covenant tied to FDA approval and revenue.
Loans secured by substantially all assets including intellectual property; future subsidiaries may guarantee obligations.

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