UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
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(IRS Employer Identification No.) | ||
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| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code:
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
| 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 | ||||||
Document and Entity Information |
Feb. 03, 2023 |
|---|---|
| Cover [Abstract] | |
| Security Exchange Name | NASDAQ |
| Amendment Flag | false |
| Entity Central Index Key | 0001634379 |
| Document Type | 8-K |
| Document Period End Date | Feb. 03, 2023 |
| Entity Registrant Name | Metacrine, Inc. |
| Entity Incorporation State Country Code | DE |
| Entity File Number | 001-39512 |
| Entity Tax Identification Number | 47-2297384 |
| Entity Address, Address Line One | 4225 Executive Square |
| Entity Address, Address Line Two | Suite 600 |
| Entity Address, City or Town | San Diego |
| Entity Address, State or Province | CA |
| Entity Address, Postal Zip Code | 92037 |
| City Area Code | (858) |
| Local Phone Number | 369-7800 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock, par value $0.0001 per share |
| Trading Symbol | MTCR |
| Entity Emerging Growth Company | true |
| Entity Ex Transition Period | true |