secwatch.observer — SEC 8-K summary
======================================

Issuer:     4D Molecular Therapeutics, Inc. (FDMT)
CIK:        0001650648
Form:       8-K
Filed at:   2026-06-29T12:05:06+00:00
Accession:  0001193125-26-286880
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1650648/000119312526286880/0001193125-26-286880-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1650648/000119312526286880/d146057d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-286880

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