Loan & DebtMay 1, 2026, 01:25 PM
PDS Biotechnology Secures $6M Promissory Note & Warrants
AI Summary
PDS Biotechnology Corporation entered into a Securities Purchase Agreement with YA II PN, LTD. to issue a $6 million promissory note and warrants to purchase up to 2,158,274 shares of common stock at an exercise price of $1.1824 per share. The promissory note, issued at a purchase price of $5.76 million, carries a 10% annual interest rate and matures in 12 months. The agreement includes covenants restricting additional debt and certain variable rate transactions, with closing expected around June 12, 2026.
Key Highlights
- Secured $6,000,000 aggregate principal amount promissory note.
- Issued warrants for 2,158,274 common shares at $1.1824 per share.
- Promissory note purchased for $5,760,000.
- Note carries a 10% annual interest rate.
- Maturity date is 12 months from closing.
- Investor can accelerate up to $1,600,000 in payments from Sept 15, 2026.
- Company restricted from certain additional indebtedness and variable rate transactions.
Price Impact
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