4D Molecular Therapeutics (the Company) has secured a Loan and Security Agreement with Hercules Capital, Inc. for up to $200.0 million in term loans. The loan facility matures on June 1, 2031. The facility is structured in multiple tranches, with an initial $20.0 million drawn on the closing date (Tranche 1A). Additional tranches include $30.0 million (Tranche 1B), $12.5 million (Tranche 2A), $12.5 million (Tranche 2B), $50.0 million (Tranche 3), $25.0 million (Tranche 4), and a discretionary $50.0 million (Tranche 5) from Hercules. Interest rates are floating, based on the prime rate plus a margin (2.00% or 2.50%) or a floor rate (8.75% or 9.25%). The Company paid an Initial Facility Charge of $500,000 and will pay Tranche Facility Charges of 1.00% for Tranches 2 through 5. The agreement includes covenants such as a minimum cash requirement and a performance covenant tied to FDA approval and market capitalization. The Company's obligations are secured by substantially all of its assets, including intellectual property.