Aditxt, Inc. (ADTX): debt financing — Aditxt assigns Evofem notes back to Baker Brothers, reduces debt to $250K

Aditxt, Inc.

Aditxt assigned all remaining amounts due under $5M and $8M secured notes and $5M unsecured notes back to Baker Brothers for $17.3M applied to repay those notes.
Outstanding balance on the notes reduced to $250,000; January 2024 secured notes maturity extended to March 31, 2024.
Company previously defaulted on $1.25M Additional Consideration Payment on Feb 9, 2024.
Baker Brothers reacquires original Evofem convertible promissory notes; no cash payment by Baker.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Aditxt, Inc. incurred credit facility of an aggregate principal amount of $5.0 million in secured notes of the Company due on January 2, 2024 with Holders of senior indebtedness of Evofem at not disclosed maturing January 2, 2024.

Instrument: credit facility
Principal: an aggregate principal amount of $5.0 million in secured notes of the Company due on January 2, 2024
Counterparty: Holders of senior indebtedness of Evofem
Rate: not disclosed
Maturity: January 2, 2024
Event: incurrence

Exact text from the filing

the Company, Evofem and the holders (the “Holders”) of certain senior indebtedness of Evofem (the “ Notes ”) entered into an Assignment Agreement dated December 11, 2023 (the “ December Assignment Agreement ”), 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

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Aditxt, Inc. incurred senior notes of an aggregate principal amount of $5.0 million in ten-year unsecured notes with Holders of senior indebtedness of Evofem at not disclosed maturing maturity date not explicitly stated, ten-year.

Instrument: senior notes
Principal: an aggregate principal amount of $5.0 million in ten-year unsecured notes
Counterparty: Holders of senior indebtedness of Evofem
Rate: not disclosed
Maturity: maturity date not explicitly stated, ten-year
Event: incurrence

Exact text from the filing

an aggregate principal amount of $5.0 million in ten-year unsecured notes (the “ Unsecured Notes ”)

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Aditxt, Inc. incurred credit facility of an aggregate principal amount of $8.0 million in secured notes of the Company due on September 30, 2024 with Holders of senior indebtedness of Evofem at not disclosed maturing September 30, 2024.

Instrument: credit facility
Principal: an aggregate principal amount of $8.0 million in secured notes of the Company due on September 30, 2024
Counterparty: Holders of senior indebtedness of Evofem
Rate: not disclosed
Maturity: September 30, 2024
Event: incurrence

Exact text from the filing

an aggregate principal amount of $8.0 million in secured notes of the Company due on September 30, 2024 (the “ September 2024 Secured Notes ”)

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Aditxt, Inc. amended credit facility of outstanding balance adjusted to $250,000 with Holders at not disclosed maturing March 31, 2024.

Instrument: credit facility
Principal: outstanding balance adjusted to $250,000
Counterparty: Holders
Rate: not disclosed
Maturity: March 31, 2024
Event: amendment

Exact text from the filing

the Company and the Holders entered into a payoff letter (the “ Payoff Letter ”) and amendments to the January 2024 Secured Notes (“ Amendment No. 4 to January 2024 Secured Notes ”), pursuant to which the maturity date of the January 2024 Secured Notes was extended to March 31, 2024 and the outstanding balance under the Notes, after giving effect to the transactions contemplated by the February Assignment Agreement as applied pursuant to the Payoff Letter, was adjusted to $250,000.

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

Aditxt, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-018477

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