Dyne Therapeutics, Inc. (DYN): debt financing — Dyne Therapeutics expands Hercules debt facility to $400M, borrows $50M on June 16, 2026

Dyne Therapeutics, Inc.

Expanded loan facility to aggregate $400M with two new $50M tranches and increased final tranche by $25M.
Borrowed $50M on closing; outstanding principal now $200M; up to $200M additional available ($125M milestone-based, $75M discretionary).
Minimum cash covenant reduced to 40% of outstanding obligations (from 60%), tested only if market cap < $1.65B; testing starts July 1, 2027.
Interest rate: WSJ prime + 2.45% (floor 7.50%); interest-only period through July 1, 2029, extendable to maturity.
Maturity date July 1, 2030; first-priority security interest on substantially all assets including IP.

item 1.01 item 2.03

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Dyne Therapeutics, Inc. incurred term loan of $50.0 million with Hercules Capital, Inc..

Instrument: term loan
Principal: $50.0 million
Counterparty: Hercules Capital, Inc.
Event: incurrence

Exact text from the filing

the Company borrowed one of the additional loan tranches in an aggregate principal amount of $50.0 million on the Amendment Closing Date.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Dyne Therapeutics, Inc. amended credit facility of $50.0 million with Hercules Capital, Inc. at Wall Street Journal prime rate, subject to a floor of 7.50%, plus 2.45% maturing July 1, 2030.

Instrument: credit facility
Principal: $50.0 million
Counterparty: Hercules Capital, Inc.
Rate: Wall Street Journal prime rate, subject to a floor of 7.50%, plus 2.45%
Maturity: July 1, 2030
Event: amendment

Exact text from the filing

the Second Amendment expanded the debt facility to an aggregate of up to $400.0 million by adding two additional tranches of $50.0 million each and increasing the final tranche by $25.0 million, and reduced the minimum cash covenant under the Loan Agreement. Pursuant to the Second Amendment, the Company borrowed one of the additional loan tranches in an aggregate principal amount of $50.0 million on the Amendment Closing Date.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Dyne Therapeutics, Inc. amended Second Amendment with Hercules Capital, Inc., as administrative agent and collateral agent, and certain other financial institutions as lenders valued at $400.0 million (effective 2026-06-16).

Action: amendment
Agreement: credit facility
Counterparty: Hercules Capital, Inc., as administrative agent and collateral agent, and certain other financial institutions as lenders
Value: $400.0 million
Effective: 2026-06-16

Exact text from the filing

On June 16, 2026 (the “Amendment Closing Date”), Dyne Therapeutics, Inc. (the “Company”) entered into the Second Amendment (the “Second Amendment”) to its Loan and Security Agreement with Hercules Capital, Inc., in its capacity as administrative agent and collateral agent (the “Agent”), and certain other financial institutions party thereto as lenders (collectively, the “Lenders”), dated as of June 27, 2025 (the “Initial Loan Agreement” and as amended by the First Amendment to Loan and Security Agreement dated as of December 8, 2025 and the Second Amendment, the “Loan Agreement”).

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Dyne Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001818794-26-000003

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