---
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"
generated_at: "2026-05-31T07:25:56.100946+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Arcus Biosciences secures up to $250M term loan facility from Hercules Capital; initial $50M funded

## Summary
- 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%.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001724521-24-000144
- JSON: https://secwatch.observer/filing/0001724521-24-000144.json
- Plain text: https://secwatch.observer/filing/0001724521-24-000144.txt

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