secwatch.observer — SEC 8-K summary
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Issuer:     CytoDyn Inc. (CYDY)
CIK:        0001175680
Form:       8-K
Filed at:   2026-03-24T23:59:59+00:00
Accession:  0001104659-26-033943
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175680/000110465926033943/0001104659-26-033943-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175680/000110465926033943/cydy-20260324x8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-033943

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