Renovaro exchanges $9.7M secured debt for $16.1M convertible notes, converted to 53.6M shares

Lunai Bioworks Inc.

Exchanged $9.7M in secured promissory notes for $16.1M in convertible notes (65% premium).
Convertible notes immediately converted into 53.6M shares at $0.30/share (premium to market).
Transaction eliminated $9.7M secured debt; no cash proceeds received by the company.
Conversion price exceeded July 7 closing price, so no Nasdaq stockholder approval needed.
Issuance to accredited existing shareholders exempt from registration under Section 4(a)(2)/Reg D.

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