Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Clene Inc. incurred loan of $5.0 million with Department of Housing and Community Development at 6.0% maturing 60 months from the first day of the second full month following the Closing Date.
- Instrument
- loan
- Principal
- $5.0 million
- Counterparty
- Department of Housing and Community Development
- Rate
- 6.0%
- Maturity
- 60 months from the first day of the second full month following the Closing Date
- Event
- incurrence
Exact text from the filing
The Loan Agreement provides for a loan in the principal amount of $5.0 million (the “Loan”) to support the development of and commercialization of CNM-Au8 and the expansion of the Company’s manufacturing operations. The Company agreed to repay the Loan plus interest at an annual interest rate of 6.0%. The Loan matures on the date that is 60 months from the first day of the second full month following the Closing Date (the “Maturity Date”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Clene Inc. entered into Loan Agreement with Department of Housing and Community Development, State of Maryland valued at $5.0 million (effective 2022-12-08).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Department of Housing and Community Development, State of Maryland
- Value
- $5.0 million
- Effective
- 2022-12-08
Exact text from the filing
On December 8, 2022 (the “Closing Date”), Clene Nanomedicine, Inc. (“Clene”), a wholly owned subsidiary of Clene Inc. (along with its subsidiaries, the “Company”), entered into a loan agreement (the “Loan Agreement”) and promissory note (the “ Promissory Note”) with the Department of Housing and Community Development, a principal department of the State of Maryland (the “DHCD”).
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