{"schema_version":"secwatch.filing_event.v1","accession":"0001819790-24-000050","form_type":"8-K","ticker":"TARS","cik":"0001819790","company_name":"Tarsus Pharmaceuticals, Inc.","filed_at":"2024-04-23T23:59:59+00:00","discovered_at":"2026-05-14T18:03:20.357741+00:00","generated_at":"2026-06-03T12:14:03.738624+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Tarsus secures $200M non-dilutive credit facility from Pharmakon; draws $75M initially","bullets":["Initial $75M drawn April 19, 2024; used to repay Hercules Capital/SVB debt and for corporate purposes.","Additional $125M available in three tranches ($25M, $50M, $50M) through Dec 2025, subject to revenue milestones.","Interest at SOFR + 6.75% (3.75% floor); five-year interest-only, matures April 19, 2029.","No warrants or financial covenants; loan secured by substantially all assets.","Net proceeds ~$40M after repayment and fees; total committed capital from Pharmakon $200M."],"urls":{"canonical":"https://secwatch.observer/filing/0001819790-24-000050","json":"https://secwatch.observer/filing/0001819790-24-000050.json","markdown":"https://secwatch.observer/filing/0001819790-24-000050.md","text":"https://secwatch.observer/filing/0001819790-24-000050.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1819790/000181979024000050/0001819790-24-000050-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1819790/000181979024000050/tars-20240419.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T12:14:03.738624+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":"4d34f7687c492ac3cbc45c887cbd60fc243c7b17","claim":"Tarsus Pharmaceuticals, Inc. incurred term loan of $75 million with funds managed by Pharmakon Advisors LP, BioPharma Credit Investments V (Master) LP and BPCR Limited Partnership, as lenders, and BioPharma Credit PLC, as collateral agent at 90-day average secured overnight financing rate (\"SOFR\"), plus a margin of 6.75% maturing April 19, 2029.","evidence_excerpt":"The Loan Agreement provides for an initial term loan in the principal amount of $75 million (the \"Tranche A Loan\") which was funded on April 19, 2024 (the \"Tranche A Closing Date\").","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1819790/000181979024000050/0001819790-24-000050-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$75 million"},{"label":"Counterparty","value":"funds managed by Pharmakon Advisors LP, BioPharma Credit Investments V (Master) LP and BPCR Limited Partnership, as lenders, and BioPharma Credit PLC, as collateral agent"},{"label":"Rate","value":"90-day average secured overnight financing rate (\"SOFR\"), plus a margin of 6.75%"},{"label":"Maturity","value":"April 19, 2029"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"593594c7d75ac30f43d51f1f32459df4d3c76215","claim":"Tarsus Pharmaceuticals, Inc. entered into Loan Agreement with funds managed by Pharmakon Advisors LP, BioPharma Credit Investments V (Master) LP and BPCR Limited Partnership, as lenders, and BioPharma Credit PLC, as collateral agent valued at initial term loan in the principal amount of $75 million (effective 2024-04-19).","evidence_excerpt":"On April 19, 2024, Tarsus Pharmaceuticals, Inc., a Delaware corporation (the “Company”) entered into an agreement with funds managed by Pharmakon Advisors LP, BioPharma Credit Investments V (Master) LP and BPCR Limited Partnership, as lenders, and BioPharma Credit PLC, as collateral agent for the lenders, and the guarantors party to such agreement (the “Loan Agreement”). The Loan Agreement provides for an initial term loan in the principal amount of $75 million","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1819790/000181979024000050/0001819790-24-000050-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"funds managed by Pharmakon Advisors LP, BioPharma Credit Investments V (Master) LP and BPCR Limited Partnership, as lenders, and BioPharma Credit PLC, as collateral agent"},{"label":"Value","value":"initial term loan in the principal amount of $75 million"},{"label":"Effective","value":"2024-04-19"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}