secwatch.observer — SEC 8-K summary
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Issuer:     Adaptimmune Therapeutics PLC (—)
CIK:        0001621227
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001558370-24-008208
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1621227/000155837024008208/0001558370-24-008208-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1621227/000155837024008208/adap-20240514x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-008208

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