{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-23-000666","form_type":"8-K","ticker":"XFOR","cik":"0001501697","company_name":"X4 Pharmaceuticals, Inc","filed_at":"2023-01-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:45.285674+00:00","generated_at":"2026-06-20T18:43:52.551803+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"confidence":"high","headline":"X4 Pharmaceuticals enters $32.5M term loan facility with Hercules Capital","bullets":["Second Amended and Restated Loan with Hercules Capital provides $32.5M term loan; replaces prior facility.","No amortization payments required before Oct 2024, extendable to Jan 2026 if conditions met.","Interest rate of prime + 3.15%, floor 10.15%; prepayment premium up to 3%.","Minimum liquidity covenant of $20M (or $10M after conditions); collateral excludes IP.","Hercules gets participation right up to $1M in future equity offerings."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-23-000666","json":"https://secwatch.observer/filing/0001628280-23-000666.json","markdown":"https://secwatch.observer/filing/0001628280-23-000666.md","text":"https://secwatch.observer/filing/0001628280-23-000666.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1501697/000162828023000666/0001628280-23-000666-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1501697/000162828023000666/xfor-20230106.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T18:43:52.551803+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0a8d3062831a9423d81b26eed9a3e0946622bb3f","claim":"X4 Pharmaceuticals, Inc incurred term loan of $32.5 million with Hercules Capital, Inc. at per annum rate equal to the greater of (i) 3.15% plus the Wall Street Journal pr maturing April 1, 2026.","evidence_excerpt":"On January 6, 2023, X4 Pharmaceuticals, Inc. (the “Company”) and its subsidiary, X4 Therapeutics, Inc. (together with the Company, the “Borrowers”), entered into a Second Amended and Restated Loan and Security Agreement (the “Second A&R Loan Agreement”) with Hercules Capital, Inc., as agent and lender, and Hercules Capital Funding IV LLC and Hercules Capital Funding Trust 2022-1, as lenders (collectively, “Hercules”), which provides for a term loan of $32.5 million (the “Term Loan”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1501697/000162828023000666/0001628280-23-000666-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$32.5 million"},{"label":"Counterparty","value":"Hercules Capital, Inc."},{"label":"Rate","value":"per annum rate equal to the greater of (i) 3.15% plus the Wall Street Journal pr"},{"label":"Maturity","value":"April 1, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"e4d4a34a9e8e3fea3ccdf862b9ffba608558a93e","claim":"X4 Pharmaceuticals, Inc amended Second Amended and Restated Loan and Security Agreement with Hercules Capital, Inc., Hercules Capital Funding IV LLC and Hercules Capital Funding Trust 2022-1 valued at $32.5 million (effective 2023-01-06).","evidence_excerpt":"On January 6, 2023, X4 Pharmaceuticals, Inc. (the “Company”) and its subsidiary, X4 Therapeutics, Inc. (together with the Company, the “Borrowers”), entered into a Second Amended and Restated Loan and Security Agreement (the “Second A&R Loan Agreement”) with Hercules Capital, Inc., as agent and lender, and Hercules Capital Funding IV LLC and Hercules Capital Funding Trust 2022-1, as lenders (collectively, “Hercules”), which provides for a term loan of $32.5 million (the “Term Loan”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1501697/000162828023000666/0001628280-23-000666-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Hercules Capital, Inc., Hercules Capital Funding IV LLC and Hercules Capital Funding Trust 2022-1"},{"label":"Value","value":"$32.5 million"},{"label":"Effective","value":"2023-01-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}