CytoDyn extends $57M convertible notes maturity by 36 months, pays $1M/month in stock

CytoDyn Inc.

Note 1 ($28.5M) maturity extended to April 5, 2029; Note 2 ($28.5M) to April 23, 2029.
Monthly payment of $1M in common stock to noteholders priced at lower of prior close or 5-day average.
Annual interest rate on both notes reduced to 5% from prior rate as part of extension.
Total principal unchanged at $57M; company avoids immediate cash repayment through equity issuance.
Extension provides near-term liquidity relief but adds ongoing dilution for shareholders.

item 1.01

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

CytoDyn Inc. amended a notes offering (effective 2026-03-24).

Action: amendment
Agreement: notes offering
Effective: 2026-03-24

Exact text from the filing

On March 24, 2026, the Company and the holders of Note 1 and Note 2 (collectively, the “Noteholders”) agreed to extend the maturity date of each of the Notes by 36 months (the “Extension Periods”).

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CytoDyn Inc. filing history →

Source: SEC EDGAR

accession 0001104659-26-033943

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