Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
International Stem Cell CORP incurred loan of $2,900,000 with Dr. Andrey Semechkin at four and a half percent (4.5%) per annum maturing September 15, 2024.
- Instrument
- loan
- Principal
- $2,900,000
- Counterparty
- Dr. Andrey Semechkin
- Rate
- four and a half percent (4.5%) per annum
- Maturity
- September 15, 2024
- Event
- incurrence
Exact text from the filing
On September 15, 2023, International Stem Cell Corporation (the "Company") and Dr. Andrey Semechkin agreed to extend (until September 15, 2024) the maturity date of the loan (in the principal amount of $2,900,000) from Dr. Semechkin to the Company that had been reflected in a promissory note dated March 15, 2023 (the "Original Note"), and which would have been due on September 15, 2023.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
International Stem Cell CORP entered into Note with Dr. Andrey Semechkin valued at principal amount of $2,900,000 (effective 2023-09-15).
- Action
- entry
- Counterparty
- Dr. Andrey Semechkin
- Value
- principal amount of $2,900,000
- Effective
- 2023-09-15
Exact text from the filing
On September 15, 2023, International Stem Cell Corporation (the “Company”) and Dr. Andrey Semechkin agreed to extend (until September 15, 2024) the maturity date of the loan (in the principal amount of $2,900,000) from Dr. Semechkin to the Company that had been reflected in a promissory note dated March 15, 2023 (the “Original Note”), and which would have been due on September 15, 2023. In exchange for the Original Note, the Company issued to Dr. Semechkin an unsecured, non-convertible promissory note in the principal amount of $2,900,000 (the “Note”) with the extended maturity date.
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