Precision BioSciences extends loan maturity to 2029
Precision BioSciences, Inc. entered into a First Amendment to its Amended and Restated Loan and Security Agreement with Banc of California on June 10, 2026.
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Form Type
8-K
Rhea-AI Filing Summary
Precision BioSciences, Inc. entered into a First Amendment to its Amended and Restated Loan and Security Agreement with Banc of California on June 10, 2026. This amendment extends the maturity date of the company’s Term Loan from June 30, 2027 to December 31, 2029, giving the company a longer period before the loan must be repaid under the existing facility.
8-K Event Classification
3 items: 1.01, 2.03, 9.01
3 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Original Term Loan maturity: June 30, 2027
New Term Loan maturity: December 31, 2029
Original agreement date: July 31, 2024
3 metrics
Original Term Loan maturity
June 30, 2027
Initial maturity date under Loan and Security Agreement
New Term Loan maturity
December 31, 2029
Extended maturity under First Amendment
Original agreement date
July 31, 2024
Date of Amended and Restated Loan and Security Agreement
Key Terms
Material Definitive Agreement, Loan and Security Agreement, Term Loan, Emerging growth company
4 terms
Material Definitive Agreement regulatory
"Item 1.01 Entry into a Material Definitive Agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
Loan and Security Agreement financial
"First Amendment to Amended and Restated Loan and Security Agreement"
A loan and security agreement is a legal contract that sets out the amount, repayment schedule, interest and the rules a borrower must follow, and it names specific assets a lender can claim if the borrower fails to pay. Think of it like a mortgage or car loan where the lender holds a claim on collateral until the debt is repaid. Investors care because it determines a company’s repayment priorities, borrowing costs, operational limits and how easily creditors can seize assets in distress, all of which affect equity value and credit risk.
Term Loan financial
"extended the maturity date of the Term Loan from June 30, 2027, to December 31, 2029"
A term loan is a type of loan that is borrowed for a set period of time, with a fixed schedule for repaying the money, usually in regular payments. It matters to investors because it represents a company's borrowing costs and financial stability; reliable repayment of these loans can indicate strong financial health, while difficulties may signal potential risks.
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Precision BioSciences (DTIL) change in its loan agreement?
Precision BioSciences amended its Loan and Security Agreement with Banc of California. The First Amendment extends the Term Loan maturity from June 30, 2027 to December 31, 2029, giving the company additional time before principal repayment is due.
Who is the lender in Precision BioSciences’ amended loan agreement?
The lender is Banc of California. Precision BioSciences and Banc of California entered into a First Amendment to the existing Amended and Restated Loan and Security Agreement, continuing their lending relationship while adjusting the Term Loan maturity date.
When does Precision BioSciences’ Term Loan now mature after the amendment?
After the amendment, Precision BioSciences’ Term Loan maturity date shifts to December 31, 2029. Previously, the maturity was June 30, 2027, so the change adds roughly two and a half years to the loan term.
When was the original Amended and Restated Loan and Security Agreement signed?
The original Amended and Restated Loan and Security Agreement between Precision BioSciences and Banc of California was dated July 31, 2024. The June 10, 2026 First Amendment modifies that agreement, primarily by extending the Term Loan maturity date.
What SEC item does this Precision BioSciences 8-K primarily relate to?
The 8-K primarily relates to Item 1.01, Entry into a Material Definitive Agreement. It also references Item 2.03 for creation of a direct financial obligation, incorporating the same loan amendment details by reference.
AI-generated analysis. How Rhea-AI works. Not financial advice.
