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TransCode Therapeutics said it prepaid $840,975 to Yorkville on October 1, 2026, after its stock’s daily volume-weighted average price (VWAP) fell below a contractual floor on 10 of 14 trading days. The payment covered $759,000 of principal, a $75,900 premium and $6,075 of accrued interest. In exchange, Yorkville waived certain note-related Amortization Events through October 31, 2026. About $4.1 million of note principal remained after the payment.
How the $840,975 payment was divided
TransCode’s October 1, 2026 Form 8-K reported the prepayment to YA II PN, Ltd., an entity identified in the filing as Yorkville. The total included three components:
| Component | Amount |
|---|---|
| Outstanding principal | $759,000 |
| Prepayment premium | $75,900 |
| Accrued interest | $6,075 |
| Total prepayment | $840,975 |
Only the $759,000 component was principal repayment. The premium and accrued interest were additional amounts paid under the transaction, so the full $840,975 should not be described as a reduction in principal.
Why the notes prompted a prepayment
The filing describes an Amortization Event tied to the notes’ $1.72 Floor Price. Under the stated condition, an event is deemed to occur if daily VWAP is below that floor for five trading days within any seven consecutive trading days. From September 11 through September 30, 2026, TransCode reported daily VWAP below the floor on 10 of 14 trading days.
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What Yorkville waived—and for how long
On October 1, TransCode and Yorkville executed a waiver in connection with the prepayment. Yorkville waived any Amortization Event deemed to have occurred on or before September 30, 2026, and any that might occur through October 31, 2026. The filing therefore describes a defined waiver period; it does not establish that the waived event triggered ongoing amortization payments.
How payments could work if an event occurs outside the waiver
The notes describe monthly payments following an Amortization Event, subject to the terms in the filing. Payments would begin on the seventh trading day after the event and recur on that day of each successive calendar month. Each would be based on 18% of the outstanding note principal on the event date, or the outstanding principal if lower, plus 10% of the principal amount being paid and accrued unpaid interest.
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The payment obligation can cease if daily VWAP is above the Floor Price for 10 consecutive trading days, unless another Amortization Event occurs. These are the contractual mechanics reported in the filing, not a statement that payments were triggered after the October 1 waiver.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How much principal remained
After the prepayment, TransCode reported approximately $4.1 million in aggregate principal outstanding under the convertible notes. That figure is the company’s approximate principal balance after this transaction; the filing does not establish the company’s overall current financial condition, subsequent debt changes, or investment outlook.
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