TScan Therapeutics Terminates Agreement, Incurs Obligation

Ticker: TCRX · Form: 8-K · Filed: 2024-12-23T00:00:00.000Z

Sentiment: neutral

Topics: material-agreement-termination, financial-obligation

TL;DR

TScan terminated a deal and now has a new financial obligation.

AI Summary

TScan Therapeutics, Inc. announced on December 20, 2024, the termination of a material definitive agreement and the creation of a direct financial obligation. The company, incorporated in Delaware with its principal executive offices in Waltham, Massachusetts, filed this 8-K report on December 23, 2024.

Why It Matters

The termination of a material agreement and the creation of a new financial obligation can significantly impact a company's financial health and strategic direction.

Risk Assessment

Risk Level: medium — The termination of a material agreement and the creation of a new financial obligation suggest potential financial or strategic shifts that warrant closer examination.

Key Players & Entities

FAQ

What was the material definitive agreement that TScan Therapeutics terminated?

The filing does not specify the details of the material definitive agreement that was terminated.

What is the nature of the direct financial obligation created by TScan Therapeutics?

The filing indicates the creation of a direct financial obligation but does not provide specific details about its nature or terms.

What is the effective date of the termination and the creation of the financial obligation?

The earliest event reported is December 20, 2024, which is when these actions likely took effect.

Why did TScan Therapeutics terminate the material definitive agreement?

The filing does not provide a reason for the termination of the material definitive agreement.

What are the potential financial implications of the new obligation for TScan Therapeutics?

The filing does not detail the specific financial implications of the newly created obligation.

From the Filing

0001193125-24-283673.txt : 20241223 0001193125-24-283673.hdr.sgml : 20241223 20241223072701 ACCESSION NUMBER: 0001193125-24-283673 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20241220 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241223 DATE AS OF CHANGE: 20241223 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TScan Therapeutics, Inc. CENTRAL INDEX KEY: 0001783328 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 825282075 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40603 FILM NUMBER: 241569873 BUSINESS ADDRESS: STREET 1: 880 WINTER STREET CITY: WALTHAM STATE: MA ZIP: 02451 BUSINESS PHONE: 857-399-9500 MAIL ADDRESS: STREET 1: 880 WINTER STREET CITY: WALTHAM STATE: MA ZIP: 02451 8-K 1 d920508d8k.htm 8-K 8-K false 0001783328 0001783328 2024-12-20 2024-12-20     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 20, 2024     TSCAN THERAPEUTICS, INC. (Exact name of registrant as specified in its charter)       Delaware   001-40603   82-5282075 (State or other jurisdiction of incorporation or organization)   (Commission File Number)   (I.R.S. Employer Identification No.)   830 Winter Street , Waltham , Massachusetts   02451 (Address of Principal Executive Offices)   (Zip Code) (857) 399-9500 (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 (see General Instruction A.2. below):   ☐ 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:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common stock, par value $0.0001 per share   TCRX   The Nasdaq Global Market LLC 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 1.01 Entry into a Material Definitive Agreement. On December 20, 2024 (the “ Effective Date ”), TScan Therapeutics, Inc. (the “ Company ”) entered into a Loan and Security Agreement (the “ New Loan Agreement ”) with Silicon Valley Bank, a division of First-Citizens Bank & Trust Company (the

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