PDS Biotechnology Corp (PDSB): debt financing — PDS Biotech closes $22.2M convertible debenture + warrant financing; repays Horizon loan

PDS Biotechnology Corp

Issued $22.2M face-value Senior Secured Convertible Debentures (net $20M) to buyers including JGB Partners LP.
Proceeds used to retire ~$19M Horizon Technology Finance loan; remainder for general corporate purposes.
Debentures mature April 20, 2028; interest at prime rate +5% (min 6%), convertible at $2.52/share.
Warrants to purchase 1M shares at $2.52/share (100% premium to 5-day VWAP), exercisable for 10 years.
Company must maintain cash balance ≥ lesser of $15M or outstanding principal plus $3M; restrictive covenants apply.

item 1.01 item 1.02 item 2.03 item 3.02 item 9.01

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

PDS Biotechnology Corp incurred senior notes of $22,222,222 with JGB Collateral LLC, as Collateral Agent, and the Buyers parties to the Securities Purchase Agreement at prime rate noted in The Wall Street Journal, Money Rates section plus 5% per ann maturing April 20, 2028.

Instrument: senior notes
Principal: $22,222,222
Counterparty: JGB Collateral LLC, as Collateral Agent, and the Buyers parties to the Securities Purchase Agreement
Rate: prime rate noted in The Wall Street Journal, Money Rates section plus 5% per ann
Maturity: April 20, 2028
Event: incurrence

Exact text from the filing

Pursuant to the Purchase Agreement, the Company agreed to sell to the Buyers (i) Senior Secured Convertible Debentures (the “ Debentures ”) in an aggregate principal amount of $22,222,222 and (ii) warrants to purchase up to 1,000,000 shares of common stock, par value $0.00033 per share (the “ Common Stock ”), for an exercise price of $2.52 per share, which is

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PDS Biotechnology Corp filing history →

Source: SEC EDGAR

accession 0001140361-25-017011

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