debt
confidence high
sentiment neutral
materiality 0.55
Celularity raises up to $1M via convertible notes and warrants; initial $500K closed
Celularity Inc
- Issued $500,000 in 8% unsecured senior convertible notes due one year; interest rises to 10% on default.
- Notes convertible into common stock at $2.85/share (floor $1.00) upon default or subsequent financing of ≥$2.5M.
- Purchaser warrants cover 100% of subscription amount at $2.85 exercise price, 5-year term, with one-time reset floor $1.00.
- Proceeds earmarked for working capital and general corporate purposes.
- Placement agent Madison Global receives 7% cash fee, 1% expense allowance, and warrants at 125% of offering price.