Ernexa Therapeutics Inc. (ERNA): debt financing — Eterna Therapeutics issues $750K promissory note to insider Charles Cherington at 5% due June 2025

Ernexa Therapeutics Inc.

Issued $750,000 promissory note to Charles Cherington, who owns ~32% of ERNA shares.
Note bears 5% annual interest, payable at maturity; default rate 7%.
Matures on earliest of June 15, 2025, or when Eterna raises >$5M in equity/convertible debt.
Cherington also holds a $1.5M note from March 11, 2025, making total insider debt $2.25M.
Note includes customary events of default, cross-default >$50k, and bankruptcy clauses.

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 $750,000 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... (c) the date on whi.

Instrument: loan
Principal: $750,000
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... (c) the date on whi
Event: incurrence

Exact text from the filing

On March 20, 2025, Eterna Therapeutics Inc. (the “Company”) issued a promissory note with an aggregate principal amount of $750,000 (the “Promissory Note”) to Charles Cherington.

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Ernexa Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-000300

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