Cibus, Inc. (CBUS): debt financing — Calyxt draws $500K from $3M interest-free line of credit from Cibus to fund ops

Cibus, Inc.

Initial $500K draw on $3M unsecured, interest-free revolving facility from merger partner Cibus Global.
Funds available in $500K increments for ordinary course operating expenses only.
Calyxt says cash sufficient through Q2 2023; facility was previously disclosed in Jan 2023 merger agreement.
No interest; draws subject to negative covenants in the merger agreement.

item 2.03

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

Cibus, Inc. incurred revolving credit of up to $3,000,000 with Cibus Global LLC at interest-free.

Instrument: revolving credit
Principal: up to $3,000,000
Counterparty: Cibus Global LLC
Rate: interest-free
Event: incurrence

Exact text from the filing

an unsecured, interest-free revolving line of credit of up to $3,000,000 in cash

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

Cibus, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-072726

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