NovAccess Global Inc.: debt financing — NovAccess enters $26.5K note with AJB Capital and licenses IDH1 biomarker from Cedars-Sinai

NovAccess Global Inc.

Issued $26,500 promissory note to AJB Capital Investments, 12% interest, 10% OID, due Oct 26, 2024.
Issued 2.5M unregistered common shares as commitment fee; granted security interest in all assets including StemVax equity.
Default triggers 18% interest, conversion at discount, and 2x principal penalty.
Obtained exclusive IDH1 biomarker license from Cedars-Sinai for predicting vaccine response in glioblastoma.
Intends to use IDH1 as companion diagnostic for TLR-AD1, an FDA Orphan Drug designated candidate for CNS cancers.

item 1.01 item 2.03 item 3.02 item 8.01 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 0.98

NovAccess Global Inc. incurred convertible notes of $26,500 with AJB Capital Investments, LLC at 12% a year maturing October 26, 2024.

Instrument: convertible notes
Principal: $26,500
Counterparty: AJB Capital Investments, LLC
Rate: 12% a year
Maturity: October 26, 2024
Event: incurrence

Exact text from the filing

On April 29, 2024, NovAccess Global Inc. (“NovAccess” or the “company”) entered into a securities purchase agreement (the “SPA”) with AJB Capital Investments, LLC (“AJB”) and issued a promissory note in the principal amount of $26,500 (the “note”) to AJB pursuant to the SPA.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NovAccess Global Inc. entered into securities purchase agreement with AJB Capital Investments, LLC (effective 2024-04-29).

Action: entry
Agreement: equity purchase
Counterparty: AJB Capital Investments, LLC
Effective: 2024-04-29

Exact text from the filing

On April 29, 2024, NovAccess Global Inc. (“NovAccess” or the “company”) entered into a securities purchase agreement (the “SPA”) with AJB Capital Investments, LLC (“AJB”) and issued a promissory note in the principal amount of $26,500 (the “note”) to AJB pursuant to the SPA.

View on SEC.gov

312 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001185185-24-000455

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