secwatch.observer — SEC 8-K summary
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Issuer:     ENZO BIOCHEM INC (—)
CIK:        0000316253
Form:       8-K
Filed at:   2023-05-22T23:59:59+00:00
Accession:  0001213900-23-041709
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Enzo Biochem raises $7M via 10% secured convertible debentures and warrants
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- Issued $7,608,696 principal amount of 10% OID secured convertible debentures for $7,000,000 net proceeds.
- Warrants to purchase up to 1,000,000 shares at $2.31/share, exercisable for 5 years.
- Debentures mature May 20, 2024; convertible at $3.01/share; interest rises to 18% on default.
- Upon sale of Enzo Clinical Labs to LabCorp, company must prepay $4M or deposit cash collateral.
- Registration rights agreement requires filing by June 19, 2023; liquidated damages if missed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/316253/000121390023041709/0001213900-23-041709-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/316253/000121390023041709/ea178994-8k_enzobio.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-041709

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