8-K
filed December 20, 2023, 6:59 PM ET
ticker ERNA
CIK 0000748592
other material
confidence high
sentiment neutral
materiality 0.75
Ernexa Therapeutics Inc. (ERNA): debt financing — Eterna raises $9.2M convertible debt, CEO resigns, Sanjeev Luther appointed
Ernexa Therapeutics Inc.
- Issued $9.2M principal of 12% senior convertible notes; initial close of ~$7.8M on Dec. 15, remainder by Jan. 15, 2024.
- Notes convertible at $1.9194/share; warrants for 9.58M shares at $1.43; 10.46M existing warrants repriced to $1.43.
- CEO Matthew Angel resigns effective Dec. 31, 2023, no disagreement; succeeded by Sanjeev Luther as President and CEO on Jan. 1, 2024.
- New CEO Luther: base salary $550K, signing bonus $75K, option for 1,685,218 shares, target bonus 50% of base.
- James Bristol appointed Chairman of the Board effective Dec. 19, 2023.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Ernexa Therapeutics Inc. incurred senior notes of aggregate principal amount of $9,193,000 with certain accredited investors at 12.00% per annum maturing five years after the date of issuance.
- Instrument
- senior notes
- Principal
- aggregate principal amount of $9,193,000
- Counterparty
- certain accredited investors
- Rate
- 12.00% per annum
- Maturity
- five years after the date of issuance
- Event
- incurrence
Exact text from the filing
On December 14, 2023, Eterna Therapeutics Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain accredited investors (the “Investors”), pursuant to which it agreed to sell to the Investors (i) 12.0% senior convertible notes (the “Notes”) in an aggregate principal amount of $9,193,000
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Matthew Angel resigned as President and Chief Executive Officer at Ernexa Therapeutics Inc..
- Action
- resigned
- Role
- President and Chief Executive Officer
Exact text from the filing
On December 19, 2023, Dr. Matthew Angel notified Eterna Therapeutics Inc. (the “Company”) that he was resigning from his position as the Company’s President and Chief Executive Officer, effective on December 31, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sanjeev Luther was appointed as President and Chief Executive Officer at Ernexa Therapeutics Inc..
- Action
- appointed
- Role
- President and Chief Executive Officer
Exact text from the filing
On December 19, 2023, the board of directors (the “Board”) of the Company appointed Sanjeev Luther as the Company’s President and Chief Executive Officer (and principal executive officer), which appointment will become effective on January 1, 2024,
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Ernexa Therapeutics Inc. entered into Notes with certain accredited investors valued at aggregate principal amount of $9,193,000 (effective 2023-12-14).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- certain accredited investors
- Value
- aggregate principal amount of $9,193,000
- Effective
- 2023-12-14
Exact text from the filing
On December 14, 2023, Eterna Therapeutics Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain accredited investors (the “Investors”), pursuant to which it agreed to sell to the Investors (i) 12.0% senior convertible notes (the “Notes”) in an aggregate principal amount of $9,193,000
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Ernexa Therapeutics Inc. entered into Warrants with certain accredited investors (effective 2023-12-14).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- certain accredited investors
- Effective
- 2023-12-14
Exact text from the filing
and (ii) warrants (the “Warrants” and, together with the Notes, the “Securities”) to purchase up to an aggregate of 9,579,014 shares of Common Stock at an exercise price of $1.43 per share (collectively, the “Private Placement”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Ernexa Therapeutics Inc. entered into Registration Rights Agreement with certain accredited investors (effective 2023-12-14).
- Action
- entry
- Counterparty
- certain accredited investors
- Effective
- 2023-12-14
Exact text from the filing
The Company and the Investors entered into a Registration Rights Agreement (the “Registration Rights Agreement”), pursuant to which the Company will be required to file a resale registration statement (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”) to register for resale 100% of the Conversion Shares and the Warrant Shares promptly following the initial closing
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Ernexa Therapeutics Inc. entered into Purchase Agreement with certain accredited investors (effective 2023-12-14).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- certain accredited investors
- Effective
- 2023-12-14
Exact text from the filing
On December 14, 2023, Eterna Therapeutics Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain accredited investors (the “Investors”), pursuant to which it agreed to sell to the Investors (i) 12.0% senior convertible notes (the “Notes”) in an aggregate principal amount of $9,193,000
View on SEC.gov
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