FibroBiologics, Inc. (FBLG): debt financing — FibroBiologics closes $5M third tranche of $25M SEPA with Yorkville; funds for R&D and diabetic foot ulcer trial

FibroBiologics, Inc.

Third $5M tranche of $15M pre-paid advance drawn; total $15M now under SEPA with YA II PN, Ltd.
Convertible promissory note: 0% interest (18% on default), matures Dec 20, 2025, convertible at lower of $0.9801 or 94% of 5-day VWAP.
Proceeds for general corporate purposes, including R&D and Phase 1/2 diabetic foot ulcer trial expected H2 2025.
Company may sell additional $10M common stock to Yorkville with consent while notes outstanding.
Conversion limited to 4.99% beneficial ownership cap; prior conversions totaled $5.7M principal at varying prices.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

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

FibroBiologics, Inc. incurred convertible notes of $5 million with YA II PN, Ltd. at 0% maturing December 20, 2025.

Instrument: convertible notes
Principal: $5 million
Counterparty: YA II PN, Ltd.
Rate: 0%
Maturity: December 20, 2025
Event: incurrence

Exact text from the filing

The third tranche of the Pre-Paid Advance was disbursed on June 16, 2025 (the “Third Closing”) in the principal amount of $5 million and evidenced by a convertible promissory note (the “Third Promissory Note).

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Source: SEC EDGAR

accession 0001641172-25-015282

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