Serina Therapeutics enters up to $20M convertible note from director Gregory H. Bailey for clinical study SER-252-1b

Serina Therapeutics, Inc.

Up to $20M drawn in 5 tranches tied to milestones for SER-252-1b registrational study; $5M available by Sept 30, 2025.
10% annual interest; conversion at $5.18/share; warrants at $5.44/share for 100% of conversion shares.
Lender is Dr. Gregory H. Bailey, board member and affiliate of largest shareholder Juvenescence; approved by independent special committee.
Senior unsecured; prepayable at any time without penalty; mandatory repayment on change of control or liquidity event.
Maturity 5 years from initial funding; customary events of default with 2% default interest.

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