AIxCrypto Holdings, Inc. (AIXC): debt financing — Qualigen issues $1.1M convertible debenture & enters $1.5M co-development with Marizyme for DuraGraft

AIxCrypto Holdings, Inc.

Issued $1.1M 8% convertible debenture and warrant to Yi Hua Chen upon exercise of Alpha option for $1M cash.
Entered co-development agreement with Marizyme to fund commercial launch of FDA-cleared DuraGraft for CABG surgery.
Qualigen to provide up to $1.5M funding; receives share of Marizyme's gross profit on US sales capped at 2x return.
Exclusivity period until May 31, 2024 to negotiate broader strategic relationship with Marizyme.
DuraGraft addresses >500,000 CABG procedures annually in US; Qualigen gains participation in revenue generation.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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

AIxCrypto Holdings, Inc. incurred convertible notes of $1,100,000 with Yi Hua Chen at 8% per annum maturing December 31, 2024.

Instrument: convertible notes
Principal: $1,100,000
Counterparty: Yi Hua Chen
Rate: 8% per annum
Maturity: December 31, 2024
Event: incurrence

Exact text from the filing

On April 12, 2024, against Chen’s Option exercise price of $1,000,000 paid to us, we delivered to Chen: - an 8% Convertible Debenture (the “Chen Debenture”) in the principal amount of $1,100,000, of like tenor as the Alpha Debenture except for the principal amount

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299 debt financings filed in the last 30 days. Browse all debt financings →

AIxCrypto Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-014821

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