secwatch.observer — SEC 8-K summary
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Issuer:     Alto Neuroscience, Inc. (ANRO)
CIK:        0001999480
Form:       8-K
Filed at:   2024-07-29T23:59:59+00:00
Accession:  0001999480-24-000025
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alto Neuroscience secures up to $11.7M convertible loan from Wellcome for ALTO-100 Phase 2b trial
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- Up to $11.663M convertible loan from Wellcome Trust; $2M funded immediately, remainder upon milestones.
- Interest accrues at SONIA+2%; convertible into common stock at 20% discount to 30-day VWAP after 2nd anniversary.
- Conversion shares capped at 5,363,326 (19.9% of outstanding stock).
- Proceeds used exclusively to fund ALTO-100 Phase 2b clinical trial in bipolar depression.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1999480/000199948024000025/0001999480-24-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1999480/000199948024000025/alto-20240724.htm
  HTML page:      https://secwatch.observer/filing/0001999480-24-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer