Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 1.0
COMPASS Pathways plc incurred term loan of $150,000,000 with Hercules Capital, Inc. at the greater of (i) 9.75% or (ii) 2.75% plus the Wall Street Journal prime rate maturing January 5, 2031.
- Instrument
- term loan
- Principal
- $150,000,000
- Counterparty
- Hercules Capital, Inc.
- Rate
- the greater of (i) 9.75% or (ii) 2.75% plus the Wall Street Journal prime rate
- Maturity
- January 5, 2031
- Event
- incurrence
Exact text from the filing
The Amended Loan Agreement provides for five tranches of term loans in an aggregate principal amount of up to $150,000,000, consisting of (i) a term loan of $50.0 million which will be fully funded at the Closing Date (the “Tranche 1 Advance”), (ii) term loans of up to $30.0 million subject to the Borrowers achieving a clinical milestone and satisfying certain other conditions (the “Tranche 2 Advance”), (iii) term loans of up to $30.0 million subject to the Borrowers achieving a milestone relating to certain FDA approvals being granted and satisfying certain other conditions (the “Tranche 3 Advance”), (iv) term loans of up to $20.0 million subject to the Borrowers achieving a commercial milestone and satisfying certain other conditions (the “Tranche 4 Advance”), and (v) up to $20.0 million, subject to the approval of Hercules’ investment committee, as may be increased by any unborrowed amounts of the Tranche 2 Advance, the Tranche 3 Advance and the Tranche 4 Advance.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
COMPASS Pathways plc amended Third Amendment with Hercules Capital, Inc. valued at up to $150,000,000 (effective 2026-01-05).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Hercules Capital, Inc.
- Value
- up to $150,000,000
- Effective
- 2026-01-05
Exact text from the filing
On January 5, 2026 (the “Closing Date”), COMPASS Pathways plc (the “Company”) and certain of its subsidiaries (together with the Company, the “Borrowers”) entered into the third amendment (the “Third Amendment”) to that certain loan and security agreement with Hercules Capital, Inc. (“Hercules”), dated as of June 30, 2023
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