{"schema_version":"secwatch.filing_event.v1","accession":"0001816590-23-000093","form_type":"8-K","ticker":"CMPS","cik":"0001816590","company_name":"COMPASS Pathways plc","filed_at":"2023-07-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:35.391989+00:00","generated_at":"2026-06-13T12:47:55.240703+00:00","sec_items":["1.01","2.03","3.02","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Compass Pathways secures up to $50M term loan from Hercules Capital, draws $30M initially","bullets":["Loan facility up to $50M; initial $30M drawn on June 30, 2023; two additional tranches of $10M each available subject to milestones and lender approval.","Interest at greater of 9.75% or prime+1.5%; interest-only until July 2025 (or extended to July 2026 if milestones met); matures July 2027.","Proceeds to fund COMP360 phase 3 trial in treatment-resistant depression; initial data expected summer 2024.","Warrant issued to Hercules for 94,222 shares at $7.96 per share (10-year term), representing 2.5% of principal.","Loan secured by assets but excludes IP; includes financial covenant to maintain qualified cash after Jan 1, 2024; prepayment penalties apply."],"urls":{"canonical":"https://secwatch.observer/filing/0001816590-23-000093","json":"https://secwatch.observer/filing/0001816590-23-000093.json","markdown":"https://secwatch.observer/filing/0001816590-23-000093.md","text":"https://secwatch.observer/filing/0001816590-23-000093.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1816590/000181659023000093/0001816590-23-000093-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1816590/000181659023000093/cmps-20230630.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T12:47:55.240703+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":"19a66091a6d96495daf95d9c74dbdacf9325729b","claim":"COMPASS Pathways plc incurred term loan of $30.0 million with Hercules Capital, Inc. at greater of (i) 9.75% or (ii) 1.50% plus the Wall Street Journal prime rate maturing July 1, 2027.","evidence_excerpt":"On June 30, 2023 (the “Closing Date”), COMPASS Pathways plc (the “Company”) and certain of its subsidiaries (together with the Company, the “Borrowers”) entered into a loan and security agreement (the “Loan Agreement”) with Hercules Capital, Inc. (“Hercules”), which provided for aggregate maximum borrowings of up to $50.0 million, consisting of (i) a term loan of $30.0 million, which was funded on June 30, 2023","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1816590/000181659023000093/0001816590-23-000093-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$30.0 million"},{"label":"Counterparty","value":"Hercules Capital, Inc."},{"label":"Rate","value":"greater of (i) 9.75% or (ii) 1.50% plus the Wall Street Journal prime rate"},{"label":"Maturity","value":"July 1, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"3b73a2efd25e07ff53a4bbc40d49d59713fb08c6","claim":"COMPASS Pathways plc entered into Loan and Security Agreement with Hercules Capital, Inc. valued at up to $50,000,000 (effective 2023-06-30).","evidence_excerpt":"On June 30, 2023 (the “Closing Date”), COMPASS Pathways plc (the “Company”) and certain of its subsidiaries (together with the Company, the “Borrowers”) entered into a loan and security agreement (the “Loan Agreement”) with Hercules Capital, Inc. (“Hercules”), which provided for aggregate maximum borrowings of up to $50.0 million","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1816590/000181659023000093/0001816590-23-000093-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Hercules Capital, Inc."},{"label":"Value","value":"up to $50,000,000"},{"label":"Effective","value":"2023-06-30"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}