Quince Therapeutics, Inc. (QNCX): debt financing — Appoints Charles S. Ryan as President; subsidiary issues up to $1M promissory note to EryDel S.p.A.

Quince Therapeutics, Inc.

Promissory note of up to $1.0M to EryDel S.p.A. in two tranches: $500k at 5.07% per annum; second $500k at AFR.
Maturity July 1, 2024; obligations discharged upon closing of Stock Purchase Agreement or termination in certain circumstances.
Charles S. Ryan, Ph.D. appointed President, effective Sept 1, 2023; previously President/CEO of Travecta Therapeutics, CEO of Neurotrope.
Compensation: $500k base salary, up to 40% bonus, option for 545,000 shares vesting over 4 years.
Severance: 12-month salary on qualifying termination; 18-month salary if change of control, plus equity acceleration and health benefits.

item 1.01 item 2.03 item 5.02

Executive movements

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Appointed

Charles S. Ryan

President

QNCX · Quince Therapeutics, Inc.

Effective: 2023-09-01
Filed: September 6, 2023, 7:59 PM ET

On August 30, 2023, the Board of Directors of the Company approved the appointment of Charles S. Ryan, Ph.D., as the President of the Company, effective as of September 1, 2023.

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

Quince Therapeutics, Inc. incurred loan of up to $1.0 million with Erydel S.p.A. at 5.07% per annum maturing July 1, 2024.

Instrument: loan
Principal: up to $1.0 million
Counterparty: Erydel S.p.A.
Rate: 5.07% per annum
Maturity: July 1, 2024
Event: incurrence

Exact text from the filing

shares (società per azioni) incorporated under the laws of Italy (“EryDel”) (the “Promissory Note”), pursuant to which EryDel Italy promised to make advances to EryDel of up to $1.0 million. The Company previously entered into a Stock Purchase Agreement, dated as of July 21, 2023, by and among the Company, EryDel, and the other parties thereto. Under the terms of

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Executive change SEC 8-K Item 5.02 confidence 0.95

Charles S. Ryan was appointed as President at Quince Therapeutics, Inc..

Action: appointed
Role: President

Exact text from the filing

On August 30, 2023, the Board of Directors of the Company approved the appointment of Charles S. Ryan, Ph.D., as the President of the Company, effective as of September 1, 2023.

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

Quince Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-229101

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