Ernexa Therapeutics Inc. (ERNA): debt financing — Eterna Therapeutics issues $1.5M promissory note to Charles Cherington at 5%

Ernexa Therapeutics Inc.

Principal amount $1,500,000 at 5.0% annual interest, paid at maturity.
Matures June 15, 2025, or earlier if Eterna raises >$5M in equity or convertible debt.
Default rate set at 7.0% per annum on overdue amounts.
Proceeds received on March 11, 2025; loan can be prepaid without penalty.
Cross-default triggered if Eterna fails to pay >$50K in other debt after grace period.

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

Ernexa Therapeutics Inc. incurred loan of $1,500,000 with Charles Cherington at 5.0% per annum maturing earliest of (a) June 15, 2025, (b) the first business day on which the Company has received aggregate proceeds of greater than $5 million ... and (c) the date o.

Instrument: loan
Principal: $1,500,000
Counterparty: Charles Cherington
Rate: 5.0% per annum
Maturity: earliest of (a) June 15, 2025, (b) the first business day on which the Company has received aggregate proceeds of greater than $5 million ... and (c) the date o
Event: incurrence

Exact text from the filing

On March 11, 2025, Eterna Therapeutics Inc. (the “Company”) issued a promissory note with an aggregate principal amount of $1,500,000 (the “Promissory Note”) to Charles Cherington.

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Ernexa Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-010049

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