Corporate ActionJun 15, 2026, 04:07 PM
PDS Biotechnology Secures $6M Note, $50M ATM Offering, Repays Debt
AI Summary
PDS Biotechnology Corporation announced the closing of a previously disclosed Securities Purchase Agreement with YA II PN, LTD. This involved the issuance of a $6,000,000 promissory note and a warrant to purchase up to 2,158,274 shares of common stock at an exercise price of $1.1824 per share. Concurrently, the company repaid and terminated its existing indebtedness. Additionally, PDS Biotechnology entered into a Sales Agreement for an 'at-the-market' offering program, allowing it to sell up to $50,000,000 of common stock through agents.
Key Highlights
- Closed Securities Purchase Agreement with YA II PN, LTD. for financing.
- Issued a Promissory Note with a $6,000,000 principal amount for $5,760,000.
- Issued a Warrant to purchase up to 2,158,274 common shares at $1.1824 per share.
- The Promissory Note bears 10% interest per annum and matures in 12 months.
- Entered a Sales Agreement for an 'at-the-market' offering of up to $50,000,000 in common stock.
- Repaid in full and terminated existing indebtedness as a condition to closing.
- PDS Operating Corporation, a subsidiary, guaranteed the Company's obligations.
- Company is obligated to file a registration statement for shares within 30 days.
Price Impact
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