Starling Oncology, Inc. filed a Current Report on Form 8-K on August 21, 2026, disclosing that its wholly owned subsidiary entered into a revolving credit agreement with Gemino Healthcare Finance, LLC d/b/a SLR Healthcare ABL, providing access to up to $25 million in revolving credit.

Key Highlights

  • Facility size: The revolving line of credit provides aggregate principal of up to $25 million.
  • Initial draw: As of the August 21, 2026 closing date, $4,750,000 was outstanding under the agreement.
  • Interest rate: Loans bear interest at Term SOFR plus 3.95%, with Term SOFR defined as the greater of the three-month forward-looking SOFR rate or 2.00% per annum.
  • Maturity date: The facility matures on August 20, 2029.
  • Default rate: If an event of default occurs and is continuing, the applicable interest rate increases by an additional 5.00%.
  • Termination fees: Early termination carries fees of 3.00% of the Revolving Loan Commitment if terminated on or before the first anniversary, 2.00% before the second anniversary, and 1.00% before the maturity date.
  • Use of proceeds: Proceeds are designated for working capital and general corporate purposes.

Starling Oncology Management Enters Revolving Credit Agreement with SLR Healthcare ABL

According to the filing, Starling Oncology Management, Limited Liability Company ("SOM, LLC"), a wholly owned subsidiary of Starling Oncology, Inc. (NASDAQ:STLN), entered into the Revolving Loan Agreement on August 20, 2026. The lender is Gemino Healthcare Finance, LLC d/b/a SLR Healthcare ABL. The filing states that the facility "is intended to provide additional financial flexibility, if needed, and may be drawn upon from time to time," and that the company "is not required or expected to borrow the full amount available under the facility."

The filing discloses that obligations under the agreement are secured by "a first-priority security interest in substantially all of SOM, LLC's now owned or arising thereafter collateral." Loan availability is governed by a borrowing base formula tied to accounts receivable, with periodic borrowing base certifications required. SOM, LLC is also required to cause several professional corporation entities - including Starling Oncology CA, APC, The Oncology Institute FL, LLC, and Starling Oncology OR, a Professional Corporation - to enter into lockbox arrangements with respect to SOM, LLC's receivables.

The agreement includes customary fees: a collateral monitoring fee of 0.0833% per month on the average borrowing base; an unused line fee of 0.04166% per month on the average unused portion; and a minimum use fee applicable when the outstanding balance falls below $5 million. The filing also notes that the agreement contains a covenant requiring SOM, LLC's Maximum Loan Turn Days to be no more than 35 days on a rolling three-month basis, commencing with the fiscal quarter ending December 31, 2026.

What Was Disclosed

Starling Oncology, Inc. reported that its subsidiary entered a $25 million revolving credit facility maturing August 20, 2029, with $4,750,000 drawn at closing, bearing interest at Term SOFR plus 3.95%, and secured by substantially all of SOM, LLC's collateral.