aibioDisc Medicine draws $30,000,000 and extends Hercules loan draw periods
Tickers IRON
A First Amendment to the Hercules loan splits the remaining $50,000,000 tranche and extends later draw deadlines into 2027 and 2028.
Key facts
- Company
- Disc Medicine, Inc. (NASDAQ: IRON)
- News type
- Debt Financing
- Primary source
- SEC filing (Form 8-K)
Disc Medicine, Inc. entered into a First Amendment to Loan Agreement on June 25, 2026. The amendment changes the Loan and Security Agreement dated as of November 6, 2024, among the company, the lender party thereto and Hercules Capital, Inc., as administrative agent and collateral agent. Hercules is the agent on the facility, and the amendment extends the periods during which future advances may be drawn.
Under the amendment, the company agreed to draw down $30,000,000 of the Tranche 1-B Advance. The existing $50,000,000 Tranche 1-C Advance was divided into a $25,000,000 loan available at the company's option through March 31, 2027 and a $25,000,000 Tranche 1-D Advance available through April 30, 2027.
The draw periods for the Tranche 2 Advance and the Tranche 3 Advance were extended to December 15, 2027 and June 30, 2028. The parties also changed the minimum cash covenant, with an initial testing date of July 1, 2028, and made other modifications set out in the amendment.
The company will file the full amendment as an exhibit to its quarterly report on Form 10-Q for the quarter ended June 30, 2026. The filing does not state a use of proceeds. It names no placement agent, underwriter or advisor.