debt
confidence high
sentiment neutral
materiality 0.60
Provectus Biopharmaceuticals approves up to $5M convertible note financing
PROVECTUS BIOPHARMACEUTICALS, INC.
- Board approved term sheet for up to $5M in convertible notes; proceeds fund drug discovery and G&A.
- Notes bear 8% interest, mature in 12 months, convertible into Series D-1 Preferred at $2.8620/share.
- Series D-1 Preferred shares convert into 10 common shares each.
- Company also closed $2.335M from previously disclosed 2021 convertible note financing.