Bicycle Therapeutics amends Hercules loan and security agreement

Chicago, July 15 – Bicycle Therapeutics plc entered into a second amendment on Friday with Hercules Capital, Inc. to the company’s loan and security agreement from March 10, 2021, according to an 8-K filing with the Securities and Exchange Commission.

The amendment extends the maturity date through July 1, 2025.

Borrowings may be increased up to a total of $75 million on or before Dec. 31, 2024.

$30 million is funded with a $45 million tranche 3 commitment subject to approval by the lenders’ investment committee.

The amortization date was extended to April 1, 2025.

The term loan interest rate was decreased and capped to the lesser of 9.05% or – the greater of 8.05% and the prime rate reported in the Wall Street Journal plus 455 basis points.

Bicycle Therapeutics, based in Cambridge, England, is a biotech company.

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