Aditxt, Inc. (ADTX): debt financing — Aditxt defaults on secured notes; triggers cross-defaults on $7.9M in loans

Aditxt, Inc.

Failed to make $1.25M Additional Consideration payment by Feb 9, 2024; January and September 2024 Secured Notes in default, entire principal due.
Cross-defaults on January Business Loan ($5.2M) and November Business Loan ($2.7M); lenders may declare full balances due immediately.
Holders of Secured Notes and lenders may exercise all rights including acceleration and security enforcement.
Company seeking amicable resolution but no assurance; potential material adverse effect on liquidity and financial condition.

item 2.04

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

Aditxt, Inc. reported a default on loan of current balance of approximately $5.2 million.

Instrument: loan
Principal: current balance of approximately $5.2 million
Event: default

Exact text from the filing

As a result of the defaults on the January 2024 Secured Notes and the September 2024 Secured Notes, the Company is in default on the Business Loan and Security Agreement dated January 24, 2024 (the January Business Loan”), which has a current balance of approximately $5.2 million

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Aditxt, Inc. faced acceleration on debt of aggregate principal amount of $8.0 million maturing September 30, 2024.

Principal: aggregate principal amount of $8.0 million
Maturity: September 30, 2024
Event: acceleration

Exact text from the filing

an aggregate principal amount of $5.0 million in secured notes of the Company due on January 2, 2024 (the “January 2024 Secured Notes”), (ii) an aggregate principal amount of $8.0 million in secured notes of the Company due on September 30, 2024 (the “September 2024 Secured Notes”), (iii) an aggregate principal amount of $5.0 million in ten-year unsecured notes,

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Aditxt, Inc. faced acceleration on debt of aggregate principal amount of $5.0 million maturing February 29, 2024.

Principal: aggregate principal amount of $5.0 million
Maturity: February 29, 2024
Event: acceleration

Exact text from the filing

dated December 11, 2023, pursuant to which the Holders assigned the Notes to the Company in consideration for the issuance by the Company of (i) an aggregate principal amount of $5.0 million in secured notes of the Company due on January 2, 2024 (the “January 2024 Secured Notes”), (ii) an aggregate principal amount of $8.0 million in secured notes of the Company due

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Aditxt, Inc. reported a default on loan of current balance of approximately $2.7 million.

Instrument: loan
Principal: current balance of approximately $2.7 million
Event: default

Exact text from the filing

and the Business Loan and Security Agreement dated November 7, 2023 (the “November Business Loan”) which has a current balance of approximately $2.7 million

View on SEC.gov

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

Aditxt, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-014582

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.