International Stem Cell issues $2.9M promissory note to CEO Andrey Semechkin for working capital

International Stem Cell CORP

Unsecured, non-convertible note for $2,900,000 issued to CEO/Co-Chairman on Jan 13, 2022.
Replaces prior $2,650,000 note plus additional $250,000 provided by Dr. Semechkin.
Interest rate of 4.5% per annum; principal and accrued interest due March 15, 2022.
Borrower may prepay without penalty at any time.

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