---
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"
generated_at: "2026-06-03T12:14:03.738624+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Tarsus secures $200M non-dilutive credit facility from Pharmakon; draws $75M initially

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001819790-24-000050
- JSON: https://secwatch.observer/filing/0001819790-24-000050.json
- Plain text: https://secwatch.observer/filing/0001819790-24-000050.txt

## Key facts
- Debt Financings
  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.
  - Instrument: term loan
  - Principal: $75 million
  - Counterparty: 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
  - Rate: 90-day average secured overnight financing rate ("SOFR"), plus a margin of 6.75%
  - Maturity: April 19, 2029
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1819790/000181979024000050/0001819790-24-000050-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: 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
  - Value: initial term loan in the principal amount of $75 million
  - Effective: 2024-04-19
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1819790/000181979024000050/0001819790-24-000050-index.htm

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