Dyne Therapeutics Expands Hercules Loan Facility to $400 Million, Draws $50 Million Tranche
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Dyne Therapeutics entered into a Second Amendment to its Loan and Security Agreement with Hercules Capital, expanding the debt facility to up to $400.0 million and easing a minimum cash covenant. The amendment adds two $50.0 million tranches, increases the final tranche by $25.0 million, and Dyne drew $50.0 million at closing, bringing outstanding principal to $200.0 million. Remaining tranches of up to $200.0 million are available subject to milestones and approvals, with the facility maturing on Jul 1, 2030 and bearing interest at prime (7.50% floor) plus 2.45%.
Agreement details:
- Agreement type: Amendment to loan and security agreement expanding term loan facility
- Counterparty: Hercules Capital, as Administrative Agent, and other lenders
- Signed / Effective: Jun 16 2026 / same
- Duration / Termination: Through Jul 1 2030
- Reason: Increase liquidity and ease covenant to support development milestones
Original SEC Filing: Dyne Therapeutics, Inc. [ DYN ] - 8-K - Jun. 17, 2026
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