Starling Oncology, Inc. (TOI) Form 8-K — Aug 21, 2026
Starling Oncology's subsidiary, Starling Oncology Management, LLC, entered into a credit agreement dated August 20, 2026 with Gemino Healthcare Finance, LLC d/b/a SLR Healthcare ABL, establishing a secured revolving credit facility of up to $25 million that matures on August 20, 2029. As of the August 21, 2026 closing date, $4.75 million was outstanding under the facility, which bears interest at Term SOFR (floored at 2.00%) plus 3.95% and is secured by a first-priority lien on substantially all of the borrower's collateral, with availability tied to a borrowing base of accounts receivable and lockbox sweeps from its professional corporations.
Key figures
- Debt Amount
- 25000000
- Interest Rate
- Term SOFR + 3.95% (Term SOFR floored at 2.00%, reset daily)
- Maturity Date
- 2029-08-20
- Unused Line Fee
- 0.04166% per month on unused portion
- Minimum Balance
- $5,000,000 minimum use fee threshold
- Default Rate Margin
- +5.00% added to applicable interest rate during an event of default
- Financial Covenant
- Maximum Loan Turn Days no more than 35 on rolling three-month basis, tested quarterly starting with fiscal quarter ending December 31, 2026
- Outstanding At Closing
- $4,750,000 as of August 21, 2026 closing date (filing text contains a '$4,750,000 million' typo)
- Upfront Commitment Fee
- $250,000 non-refundable
- Termination Fee Schedule
- 3.00% of commitment if terminated in year one; 2.00% in year two; 1.00% thereafter until maturity
- Collateral Monitoring Fee
- 0.0833% per month on average borrowing base
- Revolving Loan Commitment
- $25 million
Price after filing
Close on the filing date to close N calendar days later (from $6.46). Historical, not a forecast.
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