Cibus, Inc. (CBUS): debt financing — Calyxt draws additional $500K from Cibus credit line; cash runway through Q2 2023

Cibus, Inc.

Drew additional $500K from Cibus Global under $3M unsecured interest-free line, aggregate now $2.0M.
Company believes sufficient cash to fund operations through end of Q2 2023.
Annual meeting elected Philippe Dumont and Jonathan Fassberg as Class I directors.
Advisory vote approved executive compensation; say-on-pay frequency set to one year.

item 2.03 item 5.07

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

8-K), beginning on March 15, 2023, Calyxt can request, and Cibus Global LLC (“ Cibus ”) has agreed to provide, an unsecured, interest-free revolving line of credit of up to $3,000,000 in cash, which amount may be increased as described in the Merger 8-K (the “ Interim Funding ”). Funds can be drawn by Calyxt in $500,000 increments and may only be used to fund

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Cibus, Inc. shareholders approved Election of two Class I directors at the 2023-05-02 meeting.

Proposal: director election
Outcome: passed
Meeting: 2023-05-02

Exact text from the filing

1. To elect two Class I directors to our Board of Directors, each to serve a three-year term and until his or her successor has been elected and qualified, or until his or her earlier death, resignation or removal.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Cibus, Inc. shareholders approved Advisory vote to approve the compensation of the Company's named executive officers at the 2023-05-02 meeting.

Proposal: say on pay
Outcome: passed
Meeting: 2023-05-02

Exact text from the filing

2. To approve, on an advisory basis, the compensation of the Company's named executive officers.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Cibus, Inc. shareholders approved Advisory vote on the frequency of future votes to approve the compensation of named executive officers at the 2023-05-02 meeting.

Proposal: say on pay frequency
Outcome: passed
Meeting: 2023-05-02

Exact text from the filing

3. To approve, on an advisory basis, the frequency of future votes to approve the compensation of the Company's named executive officers.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Cibus, Inc. shareholders approved Ratification of Ernst & Young LLP as independent registered public accounting firm for the year ending December 31, 2023 at the 2023-05-02 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2023-05-02

Exact text from the filing

4. To ratify the appointment by the Audit Committee of Ernst & Young LLP as our independent registered public accounting firm for the year ending December 31, 2023.

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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 0001193125-23-137115

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