Metacrine Inc. filed SEC Form 8-K: Termination of a Material Definitive Agreement, Events That Accelerate or Increase a Direct Financial Obligation
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| Item 1.02 | Termination of a Material Definitive Agreement. |
As previously disclosed, on August 27, 2019, Metacrine, Inc. (the “Company”) entered into a Loan and Security Agreement with K2 HealthVentures LLC, as lender and administrative agent, and Ankura Trust Company, LLC, as collateral agent (as amended to date, the “Loan Agreement”), which enabled the Company to borrow up to an aggregate of $45.0 million upon the achievement of certain milestones. In October 2021, the Company borrowed $15.0 million under the Loan Agreement.
On February 3, 2023, the Company paid in full all of its outstanding obligations and other fees under the Loan Agreement, including approximately $1.7 million of related fees and expenses, and the Loan Agreement was terminated.
| Item 2.04 | Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. |
The information set forth under Item 1.02 of this Current Report on Form 8-K is incorporated by reference into this Item 2.04.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Metacrine, Inc. | ||||||
| Date: February 9, 2023 | By: | /s/ Michael York | ||||
| Michael York | ||||||
| President and Chief Executive Officer | ||||||