secwatch.observer — SEC 8-K summary
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Issuer:     PDS Biotechnology Corp (PDSB)
CIK:        0001472091
Form:       8-K
Filed at:   2025-05-02T23:59:59+00:00
Accession:  0001140361-25-017011
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PDS Biotech closes $22.2M convertible debenture + warrant financing; repays Horizon loan
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1472091/000114036125017011/0001140361-25-017011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1472091/000114036125017011/ef20048241_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-017011

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