debt
confidence high
sentiment neutral
materiality 0.50
Aditxt issues $1.25M senior notes at 10% due Sept 2026; net proceeds $1M after OID
Aditxt, Inc.
- Note principal $1.25M, purchase price $1M, original issue discount $250K; interest 10% payable monthly.
- Matures Sept 30, 2026; 100% of gross proceeds from ATM/equity line sales must redeem notes at 120% weekly.
- Company may redeem all notes at 120%; default triggers holder redemption at 125%; bankruptcy requires immediate 125% payment.
- Seven Knots, LLC granted holdback right to directly distribute equity line/ATM proceeds to noteholders until repayment.
- Negative covenants post-maturity restrict indebtedness, liens, dividends, asset transfers, and acceleration of other debt.
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