Aditxt secures $3M in new future-receipts financing; net proceeds ~$1.53M

Aditxt, Inc.

On Oct 5, 2023, Aditxt entered agreement to sell $4.47M of future receipts for $3M gross proceeds, netting ~$1.53M after fees and payoff of prior agreement.
Prior May agreement (purchased amount $2.88M) paid off with $1.23M; new weekly payments of $149k for 30 weeks.
Company grants security interest in all present and future accounts receivable to the funder.
Prepayment options: $3.87M if repaid within 30 days, up to $4.23M within 90 days.
This is the third such agreement since Feb 2023, indicating ongoing cash needs.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Aditxt, Inc. entered into Agreement for the Purchase and Sale of Future Receipts with Funder valued at October Purchased Amount of $4,470,000 for gross proceeds of $3,000,000, less fees and outstanding b (effective 2023-10-05).

Action: entry
Agreement: asset purchase
Counterparty: Funder
Value: October Purchased Amount of $4,470,000 for gross proceeds of $3,000,000, less fees and outstanding b
Effective: 2023-10-05

Exact text from the filing

On October 5, 2023, the Company entered into an Agreement for the Purchase and Sale of Future Receipts (the " October Agreement ") pursuant to which the Funder increased the May Purchased Amount to $4,470,000 (the " October Purchased Amount ") for gross proceeds to the Company of $3,000,000, less origination fees of $240,000 and the outstanding balance under the February Agreement of $1,234,460.76, resulting in net proceeds to the Company of $1,525,539.24.

View on SEC.gov

283 material agreements filed in the last 30 days. Browse all material agreements →

Aditxt, Inc. filing history →

Source: SEC EDGAR

accession 0001013762-23-003192

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