---
schema_version: "secwatch.filing_event.v1"
accession: "0001789769-24-000106"
form_type: "8-K"
ticker: "TIL"
cik: "0001789769"
company_name: "Instil Bio, Inc."
filed_at: "2024-12-23T23:59:59+00:00"
generated_at: "2026-05-28T23:44:48.278216+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Instil Bio subsidiary closes $85.6M term loan at 6.35% to refinance property debt

## Summary
- Loan from Midland National Life Insurance Co., fixed 6.35% interest-only, 2-year term with 1-year extension option.
- Proceeds used to repay all construction loans secured by Tarzana, CA facility (original June 2022 agreements).
- Loan secured by first mortgage on property; generally non-recourse but with customary carveouts and full recourse for bankruptcy or unauthorized transfers.
- Financial covenants: consolidated net worth ≥ $50M (excl. property) and minimum liquidity of $17.1M.
- Prepayment penalty within first 12 months (make-whole); no penalty after.

## SEC filing metadata
- accession: 0001789769-24-000106
- form_type: 8-K
- ticker: TIL
- cik: 0001789769
- company_name: Instil Bio, Inc.
- filed_at: 2024-12-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 1.02, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789769/000178976924000106/0001789769-24-000106-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789769/000178976924000106/til-20241220.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001789769-24-000106
- JSON: https://secwatch.observer/filing/0001789769-24-000106.json
- Plain text: https://secwatch.observer/filing/0001789769-24-000106.txt

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