AEON Biopharma, Inc. (AEON): debt financing — AEON Biopharma issues $10M convertible note to Daewoong, appoints Daewoong CEO to board

AEON Biopharma, Inc.

Issued $10M senior secured convertible note to Daewoong on April 12, 2024, with 15.79% annual interest and maturity April 12, 2027.
Proceeds will support late-stage clinical development of ABP-450 and general working capital.
Appointed Seongsoo Park (CEO of Daewoong) as Class III director, expanding board from five to six members.
Note is identical in terms to the $5M convertible note issued March 24, 2024 under the same subscription agreement.
Mr. Park will serve until the 2026 annual meeting; he brings industry and leadership experience.

item 1.01 item 2.03 item 5.02 item 9.01

Executive movements

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Appointed

Seongsoo Park

Class III director

AEON · AEON Biopharma, Inc.

Effective: 2024-04-12
Filed: April 17, 2024, 7:59 PM ET

the Board of Directors (the “Board”) of the Company appointed Seongsoo Park as a Class III director of the Board, effective as of April 12, 2024.

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 $10.0 million with Daewoong Pharmaceutical Co., LTD. at annual rate of 15.79% maturing April 12, 2027.

Instrument: convertible notes
Principal: $10.0 million
Counterparty: Daewoong Pharmaceutical Co., LTD.
Rate: annual rate of 15.79%
Maturity: April 12, 2027
Event: incurrence

Exact text from the filing

on April 12, 2024, AEON issued and sold to Daewoong one senior secured convertible note (the “Convertible Note”) in the principal amount of $10.0 million

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Seongsoo Park was appointed as Class III director at AEON Biopharma, Inc..

Action: appointed
Role: Class III director

Exact text from the filing

the Board of Directors (the “Board”) of the Company appointed Seongsoo Park as a Class III director of the Board, effective as of April 12, 2024.

View on SEC.gov

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

AEON Biopharma, Inc. entered into Convertible Note with Daewoong Pharmaceutical Co., LTD. valued at $10.0 million (effective 2024-04-12).

Action: entry
Agreement: notes offering
Counterparty: Daewoong Pharmaceutical Co., LTD.
Value: $10.0 million
Effective: 2024-04-12

Exact text from the filing

on April 12, 2024, AEON issued and sold to Daewoong one senior secured convertible note (the “Convertible Note”) in the principal amount of $10.0 million.

View on SEC.gov

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

AEON Biopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001837607-24-000033

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