secwatch.observer — SEC 8-K summary
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Issuer:     FibroBiologics, Inc. (FBLG)
CIK:        0001958777
Form:       8-K
Filed at:   2024-12-31T23:59:59+00:00
Accession:  0001493152-24-052707
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1958777/000149315224052707/0001493152-24-052707-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1958777/000149315224052707/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-052707

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer