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.
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