secwatch.observer — SEC 8-K summary
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Issuer:     Turn Therapeutics Inc. (TTRX)
CIK:        0002023016
Form:       8-K
Filed at:   2026-03-24T23:59:59+00:00
Accession:  0001213900-26-033233
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Turn Therapeutics secures up to $25M growth capital loan from Avenue Capital Group
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- Initial $7M tranche funded at closing; up to $18M additional available upon clinical and corporate milestones.
- Interest rate = greater of prime + 5.50% or 12.25%; maturity October 1, 2029; no financial covenants.
- Lender receives $1.2M equity grant and conversion option up to $3M principal at 80% of closing price.
- Proceeds expected to extend runway through Phase 2 atopic dermatitis readout and support GX-03 registrational trials.
- Company anticipates full financing extends runway through end of 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2023016/000121390026033233/0001213900-26-033233-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2023016/000121390026033233/ea0282926-8k_turn.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-033233

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