Disc Medicine, Inc. — Form 10-Q
Filed July 30, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 32/100
What the filing says
On June 25, 2026, Disc Medicine amended its $200M Term Loan facility with Hercules Capital (agent) and affiliated lenders. The First Amendment added a Tranche 1-B Advance of $30M (funded on First Amendment Closing Date), extended draw windows for Tranche 1-C (to March 31, 2027) and Tranche 1-D (to April 30, 2027), and extended Tranche 2 draw deadline to December 15, 2027 and Tranche 3 to June 30, 2028. Initial Test Date and key milestone trigger dates shifted forward. Borrower is obligated to join a subsidiary via Joinder Agreement within 30 days of amendment closing. The amendment includes customary representations, reaffirmations of security interests, and a broad release by Borrower of prior claims against lenders.
Why this rating
Routine amendment extending draw timelines and advancing one funded tranche. ~$30M increment modest relative to $1.4B market cap and $200M facility size; administrative extension of existing credit facility, not material business change.
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