Serina Therapeutics, Inc. (SER): debt financing — AgeX draws remaining $500K under Secured Note, reaches $13.16M max; issues 340K warrants at $0.735

Serina Therapeutics, Inc.

Borrowed final $500,000 on Jan 25, 2023, reaching the $13,160,000 maximum principal under the Secured Convertible Note with Juvenescence.
Outstanding principal due Feb 14, 2024; interest replaced by Origination Fee of 4% per draw plus additional 4% after 12-month draw period.
Will issue warrants for 340,136 shares of common stock at $0.735 per share to Juvenescence, subject to NYSE American listing approval.

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

Serina Therapeutics, Inc. incurred convertible notes of $500,000 with Juvenescence Limited at 4% of the amount each draw of loan funds maturing February 14, 2024.

Instrument: convertible notes
Principal: $500,000
Counterparty: Juvenescence Limited
Rate: 4% of the amount each draw of loan funds
Maturity: February 14, 2024
Event: incurrence

Exact text from the filing

On January 25, 2023, AgeX borrowed the remaining $500,000 under the Secured Convertible Promissory Note (the “Secured Note”) dated as of February 14, 2022 with Juvenescence Limited (“Juvenescence”).

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Serina Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-002757

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