Indaptus Therapeutics, Inc., a clinical stage biotechnology company focused on innovative cancer and viral infection treatments, announced an additional sale of approximately $3.4 million in convertible promissory notes and accompanying warrants. This follows a previous sale of $2.3 million, bringing the total raised to $5.7 million. The notes have a 6% annual interest rate and will mature on July 28, 2026. They will convert into common stock either 30 days post a reverse split on Nasdaq or one year from issuance, at 80% of the average closing price over the five days preceding conversion, capped at $11.20 per share. Warrants for 200% of the conversion shares will be issued post-conversion, pending stockholder approval, with a five-year term. The proceeds are intended for research, development, and general corporate purposes. Paulson Investment Company, LLC served as the exclusive placement agent for this offering.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Indaptus Therapeutics Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001641172-25-017283), on July 01, 2025, and is solely responsible for the information contained therein.
Comments