Loan & DebtSep 4, 2026, 05:31 PM
PDS Biotechnology Amends $6M Note Terms, Extends Nasdaq Cure Period
AI Summary
PDS Biotechnology Corporation has entered into a First Amendment to Promissory Note with YA II PN, Ltd., modifying the terms of a $6,000,000 note. Key changes include weekly remittance notices for at-the-market offering proceeds, an extended cure period for Nasdaq listing deficiencies to 180 days, and a requirement to use 100% of net proceeds from other equity financings for mandatory redemption. The amendment becomes effective upon execution and the company meeting its September 14, 2026 payment obligation.
Key Highlights
- PDS Biotechnology Corp amended its $6M promissory note with YA II PN, Ltd.
- Company must now provide weekly remittance notices for ATM offering net proceeds.
- The cure period for a Nasdaq listing deficiency was extended from 75 to 180 days.
- 100% of net cash proceeds from non-ATM equity financings must be applied to mandatory redemption.
- Amendment effective upon execution and payment of September 14, 2026 installment.
Price Impact
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