secwatch.observer — SEC 8-K summary
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Issuer:     Celularity Inc (CELU)
CIK:        0001752828
Form:       8-K
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0000950170-23-022503
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Celularity enters $6M senior secured loan (12.5% interest) with board-affiliated lender; matures June 14, 2023
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- Loan principal $6M, net $5.88M after 2% OID; proceeds used to pay Yorkville under pre-paid advance agreement.
- Interest 12.5% per annum; first-year interest paid in kind, not cash.
- Lender Resorts World Inc is affiliate of board member Lim Kok Thay.
- Loan secured by all assets, pari passu with C.V. Starr; covenant requires cash >= $3M at all times.
- Maturity only 29 days from closing (June 14, 2023), indicating urgent short-term financing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1752828/000095017023022503/0000950170-23-022503-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1752828/000095017023022503/celu-20230516.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-022503

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