secwatch.observer — SEC 8-K summary
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Issuer:     PROCEPT BioRobotics Corp (PRCT)
CIK:        0001588978
Form:       8-K
Filed at:   2022-10-11T23:59:59+00:00
Accession:  0001628280-22-026185
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PROCEPT BioRobotics closes $52M term loan with CIBC, repays $50M Oxford facility
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- Entered $52M senior secured term loan with CIBC; fully drawn on Oct 6, 2022.
- Interest rate is SOFR (1.5% floor) + 2.25%; interest-only for 36 months, then amortizing.
- Prepayment permitted without penalty; financial covenants apply if cash below $100M.
- Used loan plus cash to repay $50M Oxford facility (7.17% + LIBOR) and terminate it.
- Proceeds used for working capital and general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1588978/000162828022026185/0001628280-22-026185-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1588978/000162828022026185/prct-20221006.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-026185

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