Serina Therapeutics, Inc. (SER): debt financing — AgeX amends convertible notes with Juvenescence; deadline for reverse financing extended to Oct 31

On August 1, 2023, AgeX drew $500,000 of its credit available under the Secured Note as amended by the Fourth Amendment.

On July 31, 2023, AgeX and Juvenescence Limited (“Juvenescence”) entered into a Fourth Amendment (the “Fourth Amendment”) to the Amended and Restated Secured Convertible Promissory Note (the “Secured Note”) to provide that (i) the definition of Reverse Financing Condition is amended to extend to October 31, 2023 the referenced deadline for fulfillment of the condition to permit borrowing or other incurrence of indebtedness by AgeX’s subsidiary Reverse Bioengineering, Inc., and (ii) Juvenescence may convert the outstanding amount of the Secured Note loans or any portion of such loans into AgeX common stock without restriction by the “19.9% Cap” if Juvenescence elects to convert those amounts at a conversion price or prices equal to the “Drawdown Market Prices” applicable to such loan amounts in lieu of a lower conversion price set with reference to the current market price of AgeX common stock at the time of conversion.