NAVIDEA BIOPHARMACEUTICALS, INC.: debt financing — Navidea secures up to $10.75M via milestone sale, equity line, and bridge note

NAVIDEA BIOPHARMACEUTICALS, INC.

LOI to sell Cardinal milestone payment (due when Lymphoseek sales exceed $100M) for $8M.
Entered $2.75M common stock purchase agreement with Keystone; 400K commitment shares issued.
Received $225K advance under $300K secured bridge note from Vice Chairman John K. Scott Jr.
Proceeds to fund Phase IIb (NAV3-32) and Phase III (NAV3-33) trials and working capital.
Bridge note matures June 26, 2023; secured by all company assets.

item 2.03 item 1.01 item 8.01

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

NAVIDEA BIOPHARMACEUTICALS, INC. incurred loan of up to $300,000 with John K. Scott, Jr. maturing June 26, 2023.

Instrument: loan
Principal: up to $300,000
Counterparty: John K. Scott, Jr.
Maturity: June 26, 2023
Event: incurrence

Exact text from the filing

On April 25, 2023, John K. Scott, Jr., the current Vice Chairman of the Board, agreed to makes advances to the Company in the aggregate principal amount of up to $300,000 under the terms of a secured bridge note (the “2023 Bridge Note”).

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Source: SEC EDGAR

accession 0001437749-23-011528

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