---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-036355"
form_type: "8-K"
ticker: null
cik: "0001460602"
company_name: "Orgenesis Inc."
filed_at: "2023-10-05T23:59:59+00:00"
generated_at: "2026-06-10T03:55:04.286256+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Orgenesis subsidiary Koligo enters $25M convertible loan with Sai Traders; initial $1.5M at 10% interest

## Summary
- Koligo Therapeutics (Orgenesis sub) borrows up to $25M; initial $1.5M funded at closing.
- Interest 10% p.a.; maturity Dec 1, 2027; prepayable without penalty.
- Lender may convert into Orgenesis common at $2.50/share (initial) or $3.50/share (subsequent).
- Alternative conversion into Koligo equity at 75% of Qualified Financing price or 25% premium to 5-day VWAP if listed.
- Funds used for working capital and ongoing operations; shares unregistered, issued under Section 4(a)(2).

## SEC filing metadata
- accession: 0001493152-23-036355
- form_type: 8-K
- cik: 0001460602
- company_name: Orgenesis Inc.
- filed_at: 2023-10-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1460602/000149315223036355/0001493152-23-036355-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1460602/000149315223036355/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-036355
- JSON: https://secwatch.observer/filing/0001493152-23-036355.json
- Plain text: https://secwatch.observer/filing/0001493152-23-036355.txt

## Key facts
- Debt Financings
  Orgenesis Inc. incurred convertible notes of $25,000,000 (up to) with Sai Traders at 10% per annum maturing December 1, 2027.
  - Instrument: convertible notes
  - Principal: $25,000,000 (up to)
  - Counterparty: Sai Traders
  - Rate: 10% per annum
  - Maturity: December 1, 2027
  - Event: incurrence
  source text: On September 29, 2023, Koligo Therapeutics Inc. (“Borrower”), a subsidiary of Orgenesis Inc. (the “Company”) entered into a convertible loan agreement (the “Convertible Loan Agreement”) with Sai Traders (the “Lender,” and together with the Borrower, the “Parties”), pursuant to which the Lender agreed to loan the Borrower up to $25,000,000 (the “Convertible Loan”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1460602/000149315223036355/0001493152-23-036355-index.htm
- Material Agreements
  Orgenesis Inc. entered into Convertible Loan Agreement with Sai Traders valued at up to $25,000,000 (effective 2023-09-29).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Sai Traders
  - Value: up to $25,000,000
  - Effective: 2023-09-29
  source text: On September 29, 2023, Koligo Therapeutics Inc. (“Borrower”), a subsidiary of Orgenesis Inc. (the “Company”) entered into a convertible loan agreement (the “Convertible Loan Agreement”) with Sai Traders (the “Lender,” and together with the Borrower, the “Parties”), pursuant to which the Lender agreed to loan the Borrower up to $25,000,000 (the “Convertible Loan”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1460602/000149315223036355/0001493152-23-036355-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.