secwatch.observer — SEC 8-K summary
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Issuer:     Ernexa Therapeutics Inc. (ERNA)
CIK:        0000748592
Form:       8-K
Filed at:   2025-03-12T23:59:59+00:00
Accession:  0001493152-25-010049
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eterna Therapeutics issues $1.5M promissory note to Charles Cherington at 5%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/748592/000149315225010049/0001493152-25-010049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/748592/000149315225010049/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-010049

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