FibroBiologics closes $5M second tranche of convertible note; grants CEO/CSO options

FibroBiologics, Inc.

Second $5M tranche under SEPA with YA II PN (Yorkville) funded Dec 30, 2024; convertible note bears 0% interest (18% on default).
Conversion price is lower of $2.84/share or 94% of 5-day VWAP (with floor). Matures Dec 20, 2025; extendable by the company.
Company granted CEO Pete O'Heeron options for 406,339 shares and CSO Hamid Khoja options for 176,200 shares at $2.36/share.
Options vest 1/4 on Dec 27, 2025, then monthly over 36 months; issued under 2022 Stock Plan.
Net proceeds from the SEPA (up to $25M over 2 years) will be used for general corporate purposes.

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