MARIZYME, INC.: debt financing — Marizyme completes fifth closing of OID unit private placement, raises $550,000 cash

MARIZYME, INC.

Issued $647,062 principal amount of 15% OID convertible notes convertible at $0.10 per share to six investors for $550,000 cash.
Also issued Class E warrants (8.1M shares at $0.10) and Class F warrants (8.1M shares at $0.20) to the same investors.
Cancelled $150,319 of short-term debt to three consultants by issuing $176,847 principal amount of notes and equivalent warrants.
Net cash proceeds after 8% placement agent fee to Univest Securities were $506,000; no fee on debt cancellation.
Notes mature August 20, 2024; warrants exercisable for five years; registration rights waived by all investors.

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

MARIZYME, INC. incurred convertible notes of aggregate principal amount of $647,062 with nine investors at 15% original issue discount.

Instrument: convertible notes
Principal: aggregate principal amount of $647,062
Counterparty: nine investors
Rate: 15% original issue discount
Event: incurrence

Exact text from the filing

the Company issued to these investors 6,470,620 OID Units in aggregate consisting of (i) OID Convertible Notes in the aggregate principal amount of $647,062, convertible into 6,470,620 shares of common stock plus additional shares based on accrued interest at $0.10 per share, subject to adjustment

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MARIZYME, INC. entered into November 2023 OID Unit Purchase Agreement with each of nine investors valued at up to $10,000,000 (effective 2023-11-20).

Action: entry
Agreement: equity purchase
Counterparty: each of nine investors
Value: up to $10,000,000
Effective: 2023-11-20

Exact text from the filing

On November 20, 2023, the Company conducted the fifth closing (the “Fifth OID Units Closing”) of a private placement (the “OID Units Private Placement”) of up to $10,000,000 for an aggregate of up to 100,000,000 units (“OID Units”), under a unit purchase agreement between the Company and each of nine investors (the “November 2023 OID Unit Purchase Agreement”).

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Source: SEC EDGAR

accession 0001493152-23-042333

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