{"schema_version":"secwatch.filing_event.v1","accession":"0001724521-24-000144","form_type":"8-K","ticker":"RCUS","cik":"0001724521","company_name":"Arcus Biosciences, Inc.","filed_at":"2024-08-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:14.281386+00:00","generated_at":"2026-05-31T07:25:56.100946+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Arcus Biosciences secures up to $250M term loan facility from Hercules Capital; initial $50M funded","bullets":["Initial $50M funded; additional $50M available at company's option through Jun 2025 and another $50M through Mar 2026; final $100M at lenders' option.","Interest rate = greater of Prime Rate + 1.95% or 10.45% p.a.; interest-only payments until Sep 2028, extendable 12 months if FDA approves BLA/NDA.","Loans mature Sep 2029, extendable 12 months upon two of three milestones: phase 3 starts for casdatifan, quemliclustat, or etrumadenant.","Covenant: if mkt cap ≤ $1.2B, maintain Qualified Cash ≥ 50% of outstanding principal; threshold reduces to 40% or 35% upon milestones.","Prepayment premium 3% (yr1), 2% (yr2), 1% (thereafter); end-of-term charge 7.75%."],"urls":{"canonical":"https://secwatch.observer/filing/0001724521-24-000144","json":"https://secwatch.observer/filing/0001724521-24-000144.json","markdown":"https://secwatch.observer/filing/0001724521-24-000144.md","text":"https://secwatch.observer/filing/0001724521-24-000144.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1724521/000172452124000144/0001724521-24-000144-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1724521/000172452124000144/rcus-20240827.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T07:25:56.100946+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}