Serina Therapeutics, Inc. (SER): debt financing — AgeX draws $500k note, converts preferred shares giving Juvenescence 75.6% control, extends Serina merger deadline

Serina Therapeutics, Inc.

Drew $500,000 under secured convertible note with Juvenescence; repayment due Feb 14, 2024.
Converted 211,600 Series A and 148,400 Series B preferred shares into 50M common shares for Juvenescence.
Juvenescence now holds 66.4M shares (75.6% of outstanding); change in control of AgeX deemed to have occurred.
Merger agreement with Serina extended to April 29, 2024; Juvenescence entered support agreement to vote in favor.
Post-merger, Serina holders expected to own ~75% of combined company; AgeX holders ~25%.

item 2.03 item 3.02 item 5.01 item 8.01

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 maturing February 14, 2024.

Instrument: convertible notes
Principal: $500,000
Counterparty: Juvenescence Limited
Maturity: February 14, 2024
Event: incurrence

Exact text from the filing

On February 1, 2024, AgeX Therapeutics, Inc. (“AgeX”) drew $500,000 of its credit available under the Amended and Restated Secured Convertible Promissory Note (as amended, the “Secured Note”) with Juvenescence Limited (“Juvenescence”).

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Serina Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-005085

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