---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-008208"
form_type: "8-K"
ticker: null
cik: "0001621227"
company_name: "Adaptimmune Therapeutics PLC"
filed_at: "2024-05-15T23:59:59+00:00"
generated_at: "2026-06-01T23:10:34.466008+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Adaptimmune secures up to $125M term loan facility with Hercules Capital

## Summary
- First tranche of $25M available upon closing; additional $25M eligible upon afami-cel FDA approval.
- Three more tranches totaling $75M available subject to performance milestones and lender discretion.
- Interest rate is greater of 9.65% or Prime+1.15%; maturity date is June 1, 2029.
- Prepayment premium of 3%-1% sliding scale; end-of-term charge of 5.85% of principal.
- Loan secured by substantially all assets including IP; financial covenant requires minimum Qualified Cash from Jan 2025.

## SEC filing metadata
- accession: 0001558370-24-008208
- form_type: 8-K
- cik: 0001621227
- company_name: Adaptimmune Therapeutics PLC
- filed_at: 2024-05-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1621227/000155837024008208/0001558370-24-008208-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1621227/000155837024008208/adap-20240514x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-008208
- JSON: https://secwatch.observer/filing/0001558370-24-008208.json
- Plain text: https://secwatch.observer/filing/0001558370-24-008208.txt

## Key facts
- Debt Financings
  Adaptimmune Therapeutics PLC incurred credit facility of up to $125.0 million with Hercules Capital, Inc. at an annual rate equal to the greater of (i) 9.65% or (ii) 1.15% plus the Wall Str maturing June 1, 2029.
  - Instrument: credit facility
  - Principal: up to $125.0 million
  - Counterparty: Hercules Capital, Inc.
  - Rate: an annual rate equal to the greater of (i) 9.65% or (ii) 1.15% plus the Wall Str
  - Maturity: June 1, 2029
  - Event: incurrence
  source text: On May 14, 2024 (the “Closing Date”), Adaptimmune Therapeutics plc (the “Company” and collectively with any Company affiliates that are made party to the Loan Agreement, “Borrower”) entered into a Loan and Security Agreement (the “Loan Agreement”), with several banks and other financial institutions or entities from time to time party hereto as lenders (each, a “Lender”, and collectively “Lenders”) and Hercules Capital, Inc., a Maryland corporation in its capacity as administrative agent and collateral agent for itself and the Lenders (in such capacity, including any successors or assigns, the “Agent”), for a term loan facility of up to $125.0 million (the “Term Loan”), consisting of a term loan advance in the aggregate principal amount equal to $25.0 million on the Closing Date (the “Tranche 1 Advance”), a term loan advance available to the Company subject to certain terms and conditions in the aggregate principal amount of $25.0 million (the “Tranche 2 Advance’), a term loan advance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1621227/000155837024008208/0001558370-24-008208-index.htm
- Material Agreements
  Adaptimmune Therapeutics PLC entered into Loan and Security Agreement with Hercules Capital, Inc. valued at up to $125,000,000 term loan facility (effective 2024-05-14).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Hercules Capital, Inc.
  - Value: up to $125,000,000 term loan facility
  - Effective: 2024-05-14
  source text: On May 14, 2024 (the “Closing Date”), Adaptimmune Therapeutics plc (the “Company” and collectively with any Company affiliates that are made party to the Loan Agreement, “Borrower”) entered into a Loan and Security Agreement (the “Loan Agreement”), with several banks and other financial institutions or entities from time to time party hereto as lenders (each, a “Lender”, and collectively “Lenders”) and Hercules Capital, Inc., a Maryland corporation in its capacity as administrative agent and collateral agent for itself and the Lenders (in such capacity, including any successors or assigns, the “Agent”), for a term loan facility of up to $125.0 million (the “Term Loan”), consisting of a term loan advance in the aggregate principal amount equal to $25.0 million on the Closing Date (the “Tranche 1 Advance”), a term loan advance available to the Company subject to certain terms and conditions in the aggregate principal amount of $25.0 million (the “Tranche 2 Advance’), a term loan advance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1621227/000155837024008208/0001558370-24-008208-index.htm

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