Helix enters $15M convertible loan with MoonLake; rollover option into PIPE

MoonLake Immunotherapeutics

Cormorant Private Healthcare Fund IV lends MoonLake $15M interest-free, unsecured, for general corporate purposes pending business combination.
Loan matures 2 days after deal closing or June 30, 2022; may roll over into Cormorant's $27.5M PIPE commitment.
If deal terminates, loan converts into MoonLake shares; subordinated to all creditors but senior to existing subordinated loans.
Proceeds cannot be used to repay existing $15M loan from Biotechnology Value Funds.

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