{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-25-017011","form_type":"8-K","ticker":"PDSB","cik":"0001472091","company_name":"PDS Biotechnology Corp","filed_at":"2025-05-02T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.401549+00:00","generated_at":"2026-05-22T22:34:33.759894+00:00","sec_items":["1.01","1.02","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"PDS Biotech closes $22.2M convertible debenture + warrant financing; repays Horizon loan","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-25-017011","json":"https://secwatch.observer/filing/0001140361-25-017011.json","markdown":"https://secwatch.observer/filing/0001140361-25-017011.md","text":"https://secwatch.observer/filing/0001140361-25-017011.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1472091/000114036125017011/0001140361-25-017011-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1472091/000114036125017011/ef20048241_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T22:34:33.759894+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"491645e0dfa73ca5b6f66be8c9308892860a1c27","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1472091/000114036125017011/0001140361-25-017011-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$22,222,222"},{"label":"Counterparty","value":"JGB Collateral LLC, as Collateral Agent, and the Buyers parties to the Securities Purchase Agreement"},{"label":"Rate","value":"prime rate noted in The Wall Street Journal, Money Rates section plus 5% per ann"},{"label":"Maturity","value":"April 20, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}