secwatch.observer — SEC 8-K summary
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Issuer:     Senti Biosciences, Inc. (SNTI)
CIK:        0001854270
Form:       8-K
Filed at:   2026-05-01T23:59:59+00:00
Accession:  0001628280-26-029320
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 5.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Senti Biosciences enters $40M convertible note agreement with Celadon; initial $10M tranche
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- Celadon Partners, largest stockholder, commits up to $40M via Senior Secured Convertible Notes; first tranche $10M.
- Notes convertible at $0.6261/share with full-ratchet anti-dilution; maturity 6 months from closing with 200% repayment.
- Upon conversion, Celadon would own 54.6% of Senti common stock, triggering a change in control.
- Proceeds to fund CMC and clinical trials for SENTI-202; potential CVR transaction tied to milestones up to $60M.
- Stockholder meeting required by Aug 31, 2026 to approve issuance beyond 19.99% exchange cap.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854270/000162828026029320/0001628280-26-029320-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854270/000162828026029320/snti-20260427.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-029320

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