Celularity receives additional $6M loan with warrants; proceeds to pay Yorkville

Celularity Inc

Additional loan of $6M (net $5.322M after $678K OID), 12.5% interest, PIK for first year, matures March 2025.
Issues warrants for 3M shares of Class A common stock at $0.81 per share, 5-year term, purchase price $0.125 per share.
Proceeds must be used to pay YA II PN (Yorkville) under existing prepaid advance agreement.
Lender Resorts World Inc (affiliated with director Lim Kok Thay) receives senior secured interest in all assets pari passu with Starr.
Covenant requires company to maintain at least $3M cash and cash equivalents at all times.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Celularity Inc amended Amended Loan with Resorts World Inc Pte Ltd valued at $6.0 million (effective 2023-06-20).

Action: amendment
Agreement: credit facility
Counterparty: Resorts World Inc Pte Ltd
Value: $6.0 million
Effective: 2023-06-20

Exact text from the filing

On June 20, 2023, Celularity Inc., or Celularity, entered into an amended and restated senior secured loan agreement, or the Amended Loan, with Resorts World Inc Pte Ltd, or RWI, to amend and restate the previously announced senior secured loan agreement with RWI dated May 16, 2023, or the Initial Loan, in its entirety. The Amended Loan provides for an additional loan in the aggregate principal amount of $6.0 million net of an original issue discount of $678,000

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Source: SEC EDGAR

accession 0000950170-23-029159

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