Loan & DebtNov 6, 2026, 02:21 PM
Protagenic Therapeutics Issues $250,000 Promissory Note
AI Summary
Protagenic Therapeutics, Inc. has entered into a material definitive agreement by issuing a $250,000 promissory note to Patness LLC. The note accrues simple interest at 1.0% per annum and is due within 180 days or upon the closing of an equity capital raise of at least $1,000,000. The company retains the option to prepay the note without penalty. The issuance was made in reliance on an exemption from registration under the Securities Act of 1933.
Key Highlights
- Protagenic Therapeutics issued a $250,000 promissory note to Patness LLC.
- The note bears simple interest at a rate of 1.0% per annum.
- The principal and interest are due on the earliest of 180 days from the note date or upon closing of an equity raise of at least $1,000,000.
- The company can prepay the note in whole or in part without penalty.
Price Impact
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