Monogram terminates Mount Sinai license; pays $4M with cash and Series E Preferred

Monogram Technologies Inc.

Terminated exclusive license with Icahn School of Medicine at Mount Sinai, effective July 10, 2025.
Pays $4M total: $500k cash and 35,000 shares of new Series E Preferred Stock ($3.5M liquidation preference).
Series E Preferred is perpetual, $100/sh liquidation preference, no voting rights, 10% cumulative dividend, convertible after July 1, 2026.
Mandatory redemption of Series E upon securities offerings ≥$25M gross proceeds or change of control ≥40% voting power.
Mutual release of claims; no further payments due under original license agreement.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Monogram Technologies Inc.: Created Series E Redeemable Perpetual Preferred Stock via Certificate of Designation (effective 2025-07-11).

Change: charter amendment
Effective: 2025-07-11

Exact text from the filing

On July 11, 2025, the Board of Directors of the Company adopted a Certificate of Designation (the “Certificate of Designation”) of Series E Redeemable Perpetual Preferred Stock (the “Series E Preferred Stock”) to be filed with the Secretary of State of the State of Delaware (the “DE Secretary”) to create, out of the Company’s authorized but unissued preferred stock, par value $0.001 per share, the Series E Preferred Stock. On July 11, 2025, the Certificate of Designation was filed with the DE Secretary and became effective upon filing.

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Source: SEC EDGAR

accession 0001104659-25-067801

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