Disc Medicine files 8-K on Hercules loan amendment signed June 25, 2026
The filing confirms tranche restructuring and a delayed minimum cash covenant test date of July 1, 2028, with full terms to follow in the next 10-Q.
Disc Medicine, Inc. filed an 8-K disclosing that on June 25, 2026 it entered into a First Amendment to its Loan and Security Agreement with Hercules Capital, Inc. The amendment updates the original loan agreement dated November 6, 2024, and is intended to extend the periods during which the company may draw future advances.1
Under the amendment, Disc Medicine agreed to draw down $30,000,000 of the Tranche 1-B Advance, and the company's existing $50,000,000 Tranche 1-C Advance was split into a $25,000,000 loan the company can draw at its own discretion through March 31, 2027, plus a new $25,000,000 Tranche 1-D Advance available through April 30, 2027.1 The drawdown windows for the Tranche 2 Advance and Tranche 3 Advance were also pushed out, to December 15, 2027 and June 30, 2028, respectively.1
On the covenant side, Disc Medicine and Hercules reset the minimum cash covenant so that its first testing date now falls on July 1, 2028, alongside other modifications included in the amendment.1
The company cautioned that its filing summary is only a partial description, noting that the full amendment text will be attached as an exhibit to its Form 10-Q covering the quarter ended June 30, 2026.1
The 8-K was signed on June 30, 2026 by John Quisel, J.D., Ph.D., who serves as the company's President and Chief Executive Officer.
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