Loan & DebtAug 11, 2026, 04:19 PM
Enlivex Amends Convertible Note: Market Cap Default Removed
AI Summary
Enlivex Ltd. amended its Senior Secured Convertible Promissory Note with Lind Global Asset Management XIV, LLC. Key changes include the deletion of the $75.0 million market capitalization default clause and a waiver of a previously occurred default. The remaining principal increased from approximately $16.3 million to $19.2 million, and the maturity date was extended. Monthly payments were reduced from $2.3 million to $1.2 million, and a 10.0% interest rate will apply if the company's market capitalization falls below $75.0 million. The conversion price was also revised, and the prepayment premium was reduced to 2.5% for six months.
Key Highlights
- Market capitalization default clause below $75.0 million removed.
- Previously occurred market cap default waived by Investor.
- Remaining principal increased from approximately $16.3 million to $19.2 million.
- Maturity date extended from March 23, 2027, until full repayment.
- Monthly payments reduced from approximately $2.3 million to $1.2 million.
- 10.0% interest accrues daily if market capitalization is less than $75.0 million.
- Conversion price revised to lower of $40.37625 or 80% of 3-day VWAP.
- Prepayment premium reduced to 2.5% for six months post-amendment.
- priority
Price Impact
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