---
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"
generated_at: "2026-06-13T12:47:55.240703+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Compass Pathways secures up to $50M term loan from Hercules Capital, draws $30M initially

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001816590-23-000093
- JSON: https://secwatch.observer/filing/0001816590-23-000093.json
- Plain text: https://secwatch.observer/filing/0001816590-23-000093.txt

## Key facts
- Debt Financings
  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.
  - Instrument: term loan
  - Principal: $30.0 million
  - Counterparty: Hercules Capital, Inc.
  - Rate: greater of (i) 9.75% or (ii) 1.50% plus the Wall Street Journal prime rate
  - Maturity: July 1, 2027
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1816590/000181659023000093/0001816590-23-000093-index.htm
- Material Agreements
  COMPASS Pathways plc entered into Loan and Security Agreement with Hercules Capital, Inc. valued at up to $50,000,000 (effective 2023-06-30).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Hercules Capital, Inc.
  - Value: up to $50,000,000
  - Effective: 2023-06-30
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1816590/000181659023000093/0001816590-23-000093-index.htm

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