---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-026482"
form_type: "8-K"
ticker: "CLNN"
cik: "0001822791"
company_name: "Clene Inc."
filed_at: "2022-12-14T23:59:59+00:00"
generated_at: "2026-06-21T04:52:12.475145+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Clene closes $5M debt facility with Maryland DHCD at 6% interest, includes equity conversion option

## Summary
- $5M loan from Maryland DHCD at 6% interest, 5-year maturity; first 12 months deferred then 48 interest-only payments plus balloon.
- DHCD may convert up to $5M into CLNN common stock in $1M increments at ≥$4.00/share or 97% of 30-day VWAP.
- Loan supports development of CNM-Au8 and expansion of manufacturing operations in Maryland.
- Clene has existing DHCD loans: $0.5M term loan and up to $3M facility ($0.7M drawn as of Sep 30, 2022).

## SEC filing metadata
- accession: 0000950170-22-026482
- form_type: 8-K
- ticker: CLNN
- cik: 0001822791
- company_name: Clene Inc.
- filed_at: 2022-12-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822791/000095017022026482/0000950170-22-026482-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822791/000095017022026482/clnn-20221208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-026482
- JSON: https://secwatch.observer/filing/0000950170-22-026482.json
- Plain text: https://secwatch.observer/filing/0000950170-22-026482.txt

## Key facts
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822791/000095017022026482/0000950170-22-026482-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822791/000095017022026482/0000950170-22-026482-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.