debt
confidence high
sentiment neutral
materiality 0.25
Oncotelic issues $0.25M convertible note to Fourth Man, LLC at 12% interest
Oncotelic Therapeutics, Inc.
- Convertible promissory note principal $0.25M, 12% annual interest, matures in one year.
- Conversion price fixed at $0.10 per share; also issued 1,250,000 warrants at $0.20 exercise.
- Finder's fee to JH Darbie: 10% of gross proceeds plus warrants equal to 10% of amount raised.
- Proceeds for general working capital and repayment of certain debt; same terms as November 2021 issuances.