secwatch.observer — SEC 8-K summary
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Issuer:     Clene Inc. (CLNN)
CIK:        0001822791
Form:       8-K
Filed at:   2022-12-14T23:59:59+00:00
Accession:  0000950170-22-026482
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1822791/000095017022026482/0000950170-22-026482-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1822791/000095017022026482/clnn-20221208.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-026482

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer