Cibus, Inc. (CBUS): debt financing — Cibus CEO provides $5M unsecured line of credit at 12% interest

Cibus, Inc.

$5M line of credit from CEO Rory Riggs, available Jan 1 to Mar 1 2024, at 12% simple interest, due Jan 1 2026.
Loan unsecured, prepayable without penalty; terminates if Cibus secures $20M debt/equity before Jan 1 2024.
Pro forma combined net loss of $53.9M for six months ended June 30, 2023; net loss attributable to combined company $46.3M.
Basic EPS loss of $2.42 on 19.1M weighted average shares for the six-month period.
Pro forma financials reflect acquisition of Cibus Global as if it occurred on Jan 1, 2022.

item 1.01 item 2.03 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 0.9

Cibus, Inc. incurred loan of $5,000,000 with Rory Riggs at 12% per annum maturing January 1, 2026.

Instrument: loan
Principal: $5,000,000
Counterparty: Rory Riggs
Rate: 12% per annum
Maturity: January 1, 2026
Event: incurrence

Exact text from the filing

Mr. Riggs has agreed to make available to the Company a line of credit (the “Loan”) in the aggregate principal amount of $5,000,000

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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 0001193125-23-263032

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