AEON Biopharma, Inc. (AEON): debt financing — AEON Biopharma closes $5M secured convertible note with Daewoong; 15.79% interest

AEON Biopharma, Inc.

Issued $5M senior secured convertible note to Daewoong Pharmaceutical as initial closing of $15M subscription agreement.
Note accrues interest at 15.79% per annum, matures March 24, 2027.
Automatically converts at 1.3x principal into shares if AEON raises ≥$30M equity financing at ≥$1.00/share.
Optional conversion at Daewoong's election upon positive Phase 3 ABP-450 data or change of control.
Proceeds to fund late-stage clinical development of ABP-450 for migraine and for working capital.

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

AEON Biopharma, Inc. incurred convertible notes of $5,000,000 with Daewoong Pharmaceutical Co., LTD. at 15.79% maturing March 24, 2027.

Instrument: convertible notes
Principal: $5,000,000
Counterparty: Daewoong Pharmaceutical Co., LTD.
Rate: 15.79%
Maturity: March 24, 2027
Event: incurrence

Exact text from the filing

on March 24, 2024, AEON issued and sold to Daewoong one senior secured convertible note (the “Convertible Note”) in the principal amount of $5,000,000

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AEON Biopharma, Inc. entered into Subscription Agreement with Daewoong Pharmaceutical Co., LTD. valued at up to $15.0 million (effective 2024-03-19).

Action: entry
Agreement: notes offering
Counterparty: Daewoong Pharmaceutical Co., LTD.
Value: up to $15.0 million
Effective: 2024-03-19

Exact text from the filing

on March 19, 2024, AEON Biopharma, Inc. (“AEON” or the “Company”) and AEON Biopharma Sub, Inc., a subsidiary of the Company (“AEON Sub”), entered into a subscription agreement (the “Subscription Agreement”) with Daewoong Pharmaceutical Co., LTD. (“Daewoong”) relating to the sale and issuance by the Company of senior secured convertible notes in the principal amount of up to $15.0 million

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299 debt financings filed in the last 30 days. Browse all debt financings →

AEON Biopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001837607-24-000008

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